Flies in the ointment

As this issue of Risk went to press, the Basel Committee on Banking Supervision was finalising its third consultative paper (CP3) on Basel II. Christopher Jeffery reviews some of the most important issues ahead of this event

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Universal implementation
The Basel Committee on Banking Supervision’s quest for universal implementation of the Basel II capital Accord suffered a serious setback in February, when top officials at three of the US’s leading regulators, the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Financial Deposit Insurance Corporation, indicated that they would only apply it to about a dozen or so of the country’s major banks – including bank holding companies in the US owned

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