Proposals to amend Basel I Of course, those of you here today have also been following discussions about possible changes-beyond Basel II--to the existing regulatory capital rules. First of all, we expect only one or two dozen banks to move to Basel II in the near term.
The vast majority of U.S. banks would be able to continue operating safely under Basel I as amended through the rulemaking process. The Basel I framework has already been amended more than twenty-five times in response to changes in the banking environment and a better understanding of the risks of individual products and services.