Capital requirements for non-Basel II banks

WASHINGTON, DC – US banks that are not required to implement Basel II, and are not choosing to ‘opt in’ to it, will nonetheless be required to update their approach to capital calculation, according to regulators speaking at recent US events.

Kevin Bailey, deputy comptroller at the Office of the Comptroller of the Currency, said at a conference in early February that a draft of proposed rule changes for calculating capital – an advance notice of proposed rulemaking – would be published in mid-2005. But he said firms will not be subjected to a Pillar I-style capital charge for op risk.

The rule changes come after some smaller US banks objected to the way in which the US was implementing Basel II – only the top 10 or so financial

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