US agency forming working group on Basel II’s third pillar

BASEL II UPDATE

NEW YORK -- A working group of financial services industry members and regulators is being formed by the US Federal Deposit Insurance Corporation (FDIC) to recommend a four-point disclosure policy for the third pillar of the Basel II bank accord.

FDIC chairman Donald Powell said in late July there was a balance to be achieved in implementing the pillar 3 provisions of the accord, and "we should work together with the industry to find it". The FDIC is one of the main US banking regul

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