Fed to change supervision structure for Basel II

The Federal Reserve Bank of New York will change the way its supervisory departments are structured in order to implement Basel II, William Rutledge, executive vice president of the banking supervision group and a member of the management committee at the NY Fed said yesterday. Rutledge was speaking at the New York Capital Allocation conference hosted by Risk magazine.

“As we move towards the implementation of Basel II and having internal capital requirements being driven off internal estimates of these risks, there will be an increased need for expert supervisors able to critically evaluate complex systems,” said Rutledge. “Accordingly, there will be a need to accelerate the process of specialized skill development and to recruit or develop a cadre of true quantitative experts.”

Rutledge said there will be two types of supervisors at the New York Fed —

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