Fed chairman says Basel II NPR deadline will be met

In a letter to Senator Richard Shelby, Ben Bernanke, chairman of the Federal Reserve Board, has stated that although US regulators face a challenge to meet the June deadline to issue a financial rule on Basel II, he does not anticipate the start date needing to be adjusted.

The letter was issued on the day of the final deadline for comments to the latest proposals of the Basel II implementation process issued in December 2006.


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