Third Capital Accord Consultative Paper Released by Basel
The Basel Committee on Banking Supervision has issued a third consultative paper on the New Basel Capital Accord. The Committee aims to complete the New Accord by the fourth quarter of this year, with implementation to take effect by year-end 2006. To that end, work has already begun in a number of countries on draft rules that would integrate Basel capital standards with national capital regimes. ‘This is an important step as we near completion of the work of the Committee on the New Basel Capital Accord’, said Jaime Caruana, Governor of the Bank of Spain Also available on the BIS website are the results of the Basel Committee on Banking Supervision’s third Quantitative Impact Study (QIS 3).