The federal banking and thrift agencies acknowledge the substantial work involved for institutions looking to adopt Basel II in the United States and are committed to ensuring that Basel II is implemented in a fair and equitable manner. As indicated, the agencies remain unequivocally committed to fulfill all procedural requirements in working toward a final Framework-based rule.
We need input from end users and others to finalize the ARRC’s plans, and I look forward to hearing the views of those in attendance. Successful implementation will require a coordinated effort from a broad set of market participants.