Comments Invited on Proposal to Revise 1988 Capital Accord
To All State Member Banks and Bank Holding Companies in the Second Federal Reserve District:
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the Agencies) have announced that the Basel Committee on Bank Supervision (the Committee) has issued a proposed new Basel Capital Accord, in order to replace the 1988 Accord with a more risk-sensitive framework. The Basel Committee expects the new Accord to be published around the end of 2001 and to be implemented in 2004.
Comments have been invited on the proposal by May 31, 2001. In order to assist you in providing comments on the entire range of topics covered in the proposal, the following are available:
- The Committee's January 16 press release
- The Committee's proposal
- The Agencies' January 16 press release
- The Federal Reserve Board's January 23 press release
- The Agencies' Summary of the New Accord (including highlighted issues)(pdf - 50kb);
- supervisory letter (pdf - 41kb) to state member banks and bank holding companies.
Questions on this matter may be directed, at this Bank, to Darryll E. Hendricks, Senior Vice President.