Newsletter Jun 2007: Consultation produces fourteen responses

May 29 was the deadline for comment on the US federal banking supervisory agencies’ proposed guidance on the advanced approaches for measuring risk under the Basel II capital rules, as detailed in the supervisors’ earlier notice of proposed rulemaking, or NPR, on implementing Basel II in the US. The deadline for comment on the NPR closed at the end of March, but many of the 14 banks and trade associations responding to the guidance prefaced their remarks by repeating their criticisms of the US interpretation of the international Basel II framework as expounded in the NPR.