May 5, 2003 News Archive

Governor Ferguson Remarks on the Risk Management Implications of Basel II
In a speech delivered at the World Bank's Risk Management Workshop for Regulators in Washington , D.C., Vice Chairman Roger W. Ferguson, Jr., remarked on the objectives of the proposed Basel II as they relate to risk management and the cyclicality of a risk-sensitive capital regime. He also discussed the difficulty of measuring operational risk and the need for supervisors to provide more guidance in estimating the size of the capital charge for this risk.

BIS Issues Consultative Paper on the New Basel Capital Accord
The Basel Committee on Banking Supervision has released the third consultative paper (CP3) on the New Basel Capital Accord for public comment by July 31, 2003. The 226-page consultative paper reflects the current state of the New Accord. Changes to the Accord since the release of the QIS-3 Technical Guidance are outlined in the document titled, "Overview of the New Basel Capital Accord." (PDF)

Comments can be sent to the Federal Reserve electronically or mailed to:
Basel 2003 Capital Proposal
Board of Governors of the Federal Reserve System
Mail stop 155
20th Street and Constitution Avenue, N.W.
Washington, DC 20551

FinCEN Offers Materials to Assist Businesses in Fighting Financial Crimes
The Financial Crimes Enforcement Network (FinCEN) now offers a number of free materials to help businesses fight financial crimes, including a guide to prevent money laundering, a poster explaining why banks and others may ask for personal information, a short video with case studies for employees, and a training CD for employees.