Video: New York Fed’s Marc Saidenberg denies US go-slow on Basel II implementation

The US is introducing Basel II at a similar pace to international peers and is also committed to timely implementation of Basel III, according to Marc Saidenberg, senior vice-president of bank supervision at the New York Fed, who warns of the dangers of banks arbitraging rules on risk-weighted assets

Marc Saidenberg, senior vice-president of bank supervision at the Federal Reserve Bank of New York, says the US has implemented Basel II on a timeframe consistent with other international partners. "We have taken the approach of a strong supervisory overview of firms adopting Basel II particularly where capital is dependent on firms' internal measure of risk, which has been characterised by some as the US being late in implementing Basel II," he says. "This is to a large degree a reflection of