In this connection, it has already put out 5 consultation documents dealing with issues where there is national discretion. These documents discuss measures which the Bank intends to adopt as well as other matters requiring clarification and supervisory guidance.
Detailed consultations with each bank planning to use the IRB approach have begun so that problems can be identified and resolved, while the preparations of banks intending to use the standardized approach will be reviewed at a later stage - sometime before the end of 2006.