While it is true that large international banks in the other G-10 countries theoretically have a choice among the various Basel II credit risk and operational risk approaches, in practice it appears these banks will be adopting the more risk-sensitive advanced approaches.
Indeed, the Basel Committee’s report on the results of the fifth Quantitative Impact Study (QIS-5) shows that although the Basel II standardized approaches are available in the G-10 countries other than the United States, no large internationally active bank in those countries has indicated that it plans to adopt the standardized credit risk approach.