July 08, 2008
Agencies Issue Statement on Basel II Advanced Approaches Qualification Process
- Board of Governors of the Federal Reserve System
- Federal Deposit Insurance Corporation
- Office of the Comptroller of the Currency
- Office of Thrift Supervision
For immediate release
The federal banking and thrift agencies today issued an interagency statement outlining the qualification process for banking organizations implementing the new advanced capital adequacy framework known as Basel II. The process consists of three major stages: adoption of an implementation plan; completion of a satisfactory parallel run; and advancement through three transitional periods. The statement updates the interagency statement on qualification issued in January 2005 to reflect the final advanced approaches rule published December 7, 2007. The statement is attached.
Media Contacts:
| Federal Reserve | Deborah Lagomarsino | 202-452-2955 |
| FDIC | David Barr | 202-898-6992 |
| OCC | Kevin Mukri | 202-874-5770 |
| OTS | William Ruberry | 202-906-6677 |