Fed’s Ferguson says Basel II will apply to 20 US banks
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 shattered in February when the US indicated only 10 US banks would adopt Basel II, sparking fears of a two-tiered implementation of Basel II, not just in the US, but also other major markets, notably Europe.
Risk received comment from more than 14 senior regulators, trade body representatives, risk managers, lawyers and technology providers for the article.
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