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

FDIC chairman Donald Powell said yesterday there is 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 regulatory agencies.

The Basel II capital Accord, which global regulators hope to introduce in late 2006, is based on three pillars. Pillar 1 requires capital charges against banking risks and pillar 2 provides for the supervision of banks. Pillar 3, which Powell

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