OCC waits on Basel II

While expressing broad support for "the Basel II approach", the US comptroller of the currency, John Dugan, said that this was not "the same thing" as saying that a perfect proposal to implement that approach had been crafted. "If a final rule were to produce the same capital results [as QIS 4], that outcome would plainly be unacceptable to the US supervisory agencies," Dugan said, referring to the latest US quantitative impact study results that were released last month

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