William Rutledge, executive vice-president of the New York Federal Reserve Bank, outlined the next steps US regulators will take to implement the Basel Accords in the US, and also a general compliance framework for credit risk for the advanced internal ratings-based approach (IRB) under Basel Accord revisions, in a speech at a British Bankers’ Association conference in London today.
Rutledge said an advanced notice of proposed rulemaking will be issued in late May or early June, alongside a
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