However, successful implementation of Basel II in the United States will require that supervisors and bankers maintain a productive dialogue, given that both sides must complete a substantial amount of work between now and adoption in January 2008.
All the banks will be able to open CSD accounts at the BoU for their clients, issue and accept bid submission forms on their client’s behalf, and facilitate their clients’ secondary market transactions. Investors will also access their CSD account statements through their respective commercial banks.