FSA releases latest paper on Basel II
LONDON -- At the end of January, the UK’s Financial Services Authority (FSA) released its newest consultation paper on Basel II implementation, CP05/3, Strengthening Capital Standards , along with a cost-benefit study of Basel II implementation, a summary of responses to previous consultations, and a more detailed explanation of the waiver process for firms adopting the advanced credit and op risk approaches.
The consultation paper is exceptionally long -- the core paper is some 200 pages, while the various bits of draft guidance and rules runs to another 300 pages. The FSA also expects the paper it will issue in September 2005, with the hard-wired Prudential Sourcebook text, to be even longer.
A brief overview of the material released -- which focuses on the implementation of Basel II via the EU’s Cap
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