FSA releases Basel Pillar 2 assessment criteria

LONDON – The UK Financial Services Authority (FSA) has published details of its Basel II Pillar 2 assessment framework, the guidelines it will use to assess UK firms’ compliance with Pillar 2 requirements.

The British regulator’s Supervisory Review and Evaluation Process (SREP) is laid out in a paper entitled Our Pillar 2 Assessment Framework. The release of the document makes the FSA the first national regulator to provide financial institutions with an insight into exactly what supervisors