Fed's Bies on Basel II implementation in the US

In the speech 'An update on Basel II implementation in the United States' given on 26 February Susan Schmidt Bies of the Federal Reserve said that some parts of the proposed overhaul of U.S. banking rules known as Basel II could be delayed by a year.

"We are carefully considering the request that implementation of the market risk proposals be pushed back one year to January 2009," Bies said in her final speech on Basel II before retiring at a forum in New York.

Bies said that existing Basel I

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