In a speech on 'Basel II: Scope of Application in the United States' Roger Ferguson of the Federal Reserve said we anticipate that U.S. banking organizations that account for 99 percent of the foreign assets and two-thirds of all assets of our domestic banking system will be under the A-IRB and AMA version of Basel II and thus will be fully compliant with the letter, and certainly the spirit, of the new Basel Accord.

To read past central bank speeches use our Speech Finder. Click the link on the