More importantly, the United States fully supports the role of the Basel Committee in developing capital standards that are appropriate for countries around the world to apply to their banking systems. But as the Basel II process has signaled, one framework can no longer address the needs of all types of banking organizations.
To meet this challenge, the Basel II proposals contained in CP3 will include three approaches to the measurement of credit risk as well as three approaches to the measurement of operational risk. So why is the United States not proposing to implement the full range of these options and apply them to all U.S. banks?