With regard to both the Basel II proposals and the proposed Basel I amendments, we understand the need for full transparency. For that reason, we expect to have overlapping comment periods for the Basel II NPR and the NPR for the proposed Basel I amendments. In fact, we want all interested parties to compare, contrast, and comment on the two proposals in overlapping timeframes.
Accordingly, our proposals could change as a result of comments received or new information gathered. Cross-border implementation of Basel II As I noted earlier, each country must implement Basel II as appropriate for its particular jurisdiction. To that end, the U.S. banking agencies are acting to ensure that the Basel II framework is implemented in the United States in a prudential manner.