Fed's Ferguson says Basel II will apply to 20 US banks

Ferguson, contributing to a forthcoming special feature on the release of the Basel Committee on Banking Supervision’s third consultative paper (CP3) in Risk’s June edition, said US agencies now expect Basel II to apply to 20 US banks. These banks account for two thirds of all US bank assets and 99% of US bank assets held internationally. This is twice as many banks as mentioned by US agencies earlier this year, and should help restore confidence in the Basel II process. This confidence was