The rocky road to implementation of Basel II in the United States

Atlantic Economic Journal

Volumn 35, Issue 4, 2007, Pages 411-429

  Herring, Richard J ^a  

^a UNIVERSITY OF PENNSYLVANIA   (United States)

Author keywords

Basel II; Capital regulation; Competitive equity

Indexed keywords

EID: 37449014853     PISSN: 01974254     EISSN: None     Source Type: Journal    
DOI: 10.1007/s11293-007-9094-6     Document Type: Article

References (43)

1. Basel Committee on Banking Supervision (1988). International convergence of capital measurement and capital standards. Basel Committee Publications No.4 July.
2. Basel Committee on Banking Supervision (1996). Amendment to the capital accord to incorporate market risks. Basel Committee Publications No. 24, January.
3. Basel Committee on Banking Supervision (2004). Basel II: International convergence of capital measurement and capital standards: A revised framework. Bank for International Settlements, June.
4. Basel Committee on Banking Supervision (2006). International convergence of capital measurement and capital standards, A revised framework, comprehensive version. Bank for International Settlements, June.
5. Berger, A. N. (2004). Potential competitive effects of Basel II on banks in SME credit markets in the United States. Working Paper Federal Reserve Board, February.
6. Calem, P. S., & Follain, J. R. (2005). An examination of how the proposed bifurcated implementation of Basel II in the U.S. may affect competition among banking organizations for residential mortgages. Working paper presented at the AREUEA Meetings, January.
7. Calomiris, C. W., & Herring, R. J. (2002). The regulation of operational risk in investment management companies. Perspective, Investment Company Institute, September, pp. 1-19.
8. Carey, M. (2002). A guide to choosing absolute bank capital requirements. In R. M. Levich, G. Majnoni, & C. Reinhart (Eds.) Ratings, raring agencies and the global financial system (pp. 116-138). Norwell, MA: Kluwer.
9. Credit Suisse Group (2003). The new Basel capital accord: Comments of Credit Suisse Group, November 3.
10. Federal Reserve Board (2006). Draft interagency proposed rulemaking to implement Basel II risk-based capital standards for large, internationally active banking organizations. Draft Federal Register Notice, March 30.
11. Federal Reserve Board Staff (2006). Memorandum on the notice of proposed rulemaking implementing new risk-based capital framework in the United States. March 22.
12. Ferguson, R. W., Jr. (2000). Community banks: Opportunities and challenges in the "Post modernization era". Remarks before the Independent Community Bankers of America, May 2.
13. Ferguson, R. W., Jr. (2003a). Basel II" Testimony before the subcommittee on domestic and international monetary policy, trade, and technology, committee on financial services. US House of Representatives, February 27.
14. Ferguson, R. W., Jr. (2003b) Basel II: A Realist's perspective. Remarks at the risk management association's conference on capital management. April 9.
15. Ferguson, R. W., Jr. (2003c) Basel II: Scope of application in the United States. Remarks before the institute of international bankers, June 10.
16. FDIC (2006). Key aspects of the proposed rule on risk-based capital standards: Advanced capital adequacy framework. Financial Institution Letters. Last updated September 25.
17. Fontnouvelle, P., Garrity, V., Chu, S., & Rosengren, E. (2005). The potential impact of explicit Basel II operational risk capital charges on the competitive environment of processing banks in the United States. Working paper, Federal Reserve Bank of Boston, January 12.
18. GAO (2007). Risk-based capital: Bank regulators need to improve transparency and overcome impediments to finalizing the proposed Basel II framework. United States Government Accountability Office, GAO-07-253, February.
19. Hancock, D., Lehnert, A., Passmore, W., & Sherlund, S. (2006). The competitive effects of risk-based capital regulation: An example from U.S. mortgage markets. Working paper Federal Reserve Board, August.
20. Hannan, T. H., & Pilloff, S. J. (2004). Will the proposed application of Basel II in the United States encourage increased bank merger activity? Evidence from past merger activity. Working Paper Federal Reserve Board, February 18.
21. Heller, M., & Davenport, T. (2005). Congressional pressure for consensus on Basel II. American Banker, March 15.
22. Herring, R. J. (2002). The Basel 2 approach to bank operational risk: Regulation on the wrong track. The Journal of Risk Finance, 4 (1), 42-45 (Fall).
23. Herring, R. J. (2004a). The subordinated debt alternative to Basel II. Journal of Financial Stability, 1, 137-155.
24. Herring, R. J. (2004b). How can the invisible hand strengthen prudential supervision? In C. Hunter, G. Kaufman, C. Borio, & K. Tsatsaronis (Eds.) Market discipline: Evidence across countries and industries (pp. 363-379). Cambridge: MIT Press.
25. Herring, R. J., & Carmassi, J. (2007). The structure of cross-sector financial supervision. Financial Markets, Institutions & Instruments (in press).
26. Herring, R. J., & Litan, R. E. (1995). Financial regulation in the global economy. Washington, D.C.: The Brookings Institution.
27. Joint Press Release (2007). Banking agencies reach agreement on Basel II implementation. Joint Press Release of the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and Office of Thrift Supervision, July 20.
28. Joint Release (2005). Banking agencies to perform additional analysis before issuing notice of proposed rulemaking related to Basel II. Joint Release of the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of Thrift Supervision, April 29.
29. Joint Release (2006). Summary findings of the fourth quantitative impact study. Joint Release of the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and Office of Thrift Supervision, February 24.
30. Kane, E. J. (2007a). Basel II: A contracting perspective. Journal of Financial Services Research 32 (1), 39-53.
31. Kane, E. J. (2007b). Connecting national safety nets: The dialectics of the Basel II contracting process. Working paper, August 1.
32. Lang, W. W., Mester, L. J., & Vermilyea, T. A. (2005). Potential competitive effects on U.S. bank credit card lending from the proposed bifurcated application of Basel II. Working Paper Federal Reserve Bank of Philadelphia, December 5.
33. Paletta, D. (2005). Backlash on Basel hits fed - What now? American Banker, Thursday, October 6.
34. Rehm, B. (2006). Settled issue on Basel now a roadblock? American Banker, Monday, July 31.
35. Simmons, H. H. (2003). Zions bancorporation comment letter on proposal relating to the new Basel capital accord. November 3.
36. Sivon, J. (2006). Letter to the editor: Big banks' concerns over Basel warranted. American Banker, Friday, October 20.
37. Sloan, S. (2006a). Why big banks' Basel tactics may not work. American Banker, October 10.
38. Sloan, S. (2006b). Fed executive on Basel II: Preserving capital crucial. American Banker, November 8.
39. Sloan, S. (2007a).A green light, and a yellow, for Basel II. American Banker, February 16.
40. Sloan, S. (2007b). Bies, bair diverge on readiness of Basel II proposal. American Banker, February 27.
41. Sloan, S. (2007c). Bankers maintain criticisms of U.S. version of Basel II. American Banker, April 5.
42. US Shadow Financial Regulatory Committee (2000). Reforming bank capital regulation. Statement No. 160, March 2.
43. US Shadow Financial Regulatory Committee (2002). The Basel 2 approach to bank operational risk: Regulation on the wrong track. Statement No. 179, May.