The Basel Committee on Banking Supervision has issued a third consultative paper on the New Basel Capital Accord.
Comments are due by 31 July 2003, and will be helpful to the Committee as it makes the final modifications to its proposal for a new capital adequacy framework. The goal of the Committee continues to be to complete the New Accord by the fourth quarter of this year, with implementation to take effect in member countries by year-end 2006. To that end, work already has begun in a number of countries on draft rules that would integrate Basel capital standards with national capital regimes.
An overview paper accompanies the third consultative document. This paper provides a summary of the new capital adequacy framework. It also outlines changes to the proposal since the release in October 2002 of the QIS 3 Technical Guidance, which banks used to assess the impact of the New Accord on their portfolios. The Committee issued the results of the QIS 3 impact study on 5 May 2003. The Committee issued supplementary information on QIS 3 on 27 May 2003.
Comments received
The Committee wishes to thank those who have taken the time and effort to express their views on the above consultation. The comments received are available in PDF format below.