Basel II recalibration for 2006 QIS5
BASEL -- The Basel Committee on Banking Supervision plans to conduct quantitative impact study five (QIS5) during 2006 -- the year during which parallel running will take place -- to recalibrate Basel II.
Sources at both the UK Financial Services Authority and the Basel Committee say the results from QIS4 -- currently being conducted in several countries -- cannot be used to recalibrate Basel II because those exercises are nationally based. Individual countries are drafting their own QIS4 worksheets, although the Committee did release a model worksheet in late December 2004. The Committee’s worksheet is simply the QIS3 worksheets and instructions updated for the changes made to the Basel II text
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