Regulatory Consistency Assessment Programme (RCAP) - Assessment of Basel III regulations - United States of America

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BCBS  | 
Implementation reports
05 December 2014
Status:  Current

Through its Regulatory Consistency Assessment Programme (RCAP), the Basel Committee monitors the timely adoption of regulations by its members, assesses their consistency with the Basel framework and analyses the quality of intended regulatory outcomes. The RCAP also helps member jurisdictions to identify deviations from the Basel framework and assesses their materiality. This report describes the Committee's assessment of the implementation of the Basel capital standards in the United States. 

This assessment is based on the set of US regulations published in July 2013. Seven of the 13 components assessed meet all minimum provisions of the relevant Basel standards; these were therefore graded as "compliant", the highest possible grade. Four of the components were assessed as "largely compliant", one notch below the highest possible grade, reflecting the fact that most but not all provisions of the global standard were satisfied. Two components - the securitisation framework and the standardised approach for market risk - were assessed as "materially non-compliant", which is one notch above the lowest possible grade. Overall, the US standards were assessed as "largely compliant" with the Basel framework.