Banks get set to prepare feisty responses to the US ANPR

NEW YORK -- US banks are going to hit back hard at the country’s regulatory agencies in their responses to the advance notice of proposed rulemaking (ANPR).

US banks are among the strongest opponents of the Pillar I operational risk charge under the new Basel II framework, as published in the Basel Committee on Banking Supervision’s third consultative paper (CP3) and echoed in the US regulators’