Federal Reserve System Board of Governors Member Randall S. Kroszner Delivers Remarks On Basel Ii Implementation in the United States at the New York Bankers Association Annual Washington Visit

Extract


Federal Reserve System Board of Governors Member Randall S. Kroszner Delivers Remarks On Basel Ii Implementation in the United States at the New York Bankers Association Annual Washington Visit

FED GOVERNOR KROSZNER DELIVERS REMARKS ON BASEL II IMPLEMENTATION IN THE UNITED STATES AT THE NEW YORK BANKERS ASSOCIATION ANNUAL WASHINGTON VISIT, WASHINGTON, D.C., AS RELEASED BY THE FEDERAL RESERVE

JULY 12, 2007

SPEAKER: FEDERAL RESERVE SYSTEM BOARD OF GOVERNORS MEMBER RANDALL S. KROSZNER

[*] KROSZNER: Good morning. Thank you very much for the invitation to speak today. I hope that your visit here to Washington, D.C. provides you with useful information about regulatory and policy matters that affect your institutions. My remarks today address the latest developments on Basel II implementation in the United States.

As most of you know, the process for developing a revised international capital accord, known as Basel II, has been a long -- and some might say painful -- trek for both bankers and supervisors. Many countries around the world are already tailoring and implementing Basel II in their jurisdictions, while the U.S. banking agencies are in the process of finalizing their rules for implementation. The agencies have been considering the comments received on the Basel II proposals that w...

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