FSA releases Basel II information

LONDON -- The UK’s Financial Services Authority (FSA) published a mass of information about implementation of Basel II in general during December and early January, which included more specific information about its approach to the op risk portions of that framework. The FSA is expected to publish draft text for its waiver pack as well as some draft regulatory language for implementation of the EU Capital Adequacy Directive before the end of January.

According to the December meeting minutes of the Basel II/ CRD Implementation Advisory Group, FSA officials expect that the consultation paper released at the end of January "would not be the FSA’s final statement on its implementation of the CRD, though it was intended to give a good indication of the overall approach". The document will only contain examples of draft rules, including some examples of what the regulator means by the phrase "copy out". The second consultation paper, the timing

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