US regulators issue their advance notice of proposed rulemaking
US regulators published the much-awaited advance notice of proposed rulemaking (ANPR) late on Friday afternoon, after a meeting of the Board of Governors of the Federal Reserve.
The ANPR, authored by representatives of the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision weighs in at nearly 300 pages, including supervisory guidance.
According to a news release, the ANPR outlines the criteria for the so-called mandatory banks that will have to comply with Basel II’s advanced credit and operational risk approaches in the US—about 10 banks are expected to fall into this
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