In that vein, the Federal Reserve has published several white papers analyzing the potential impact of Basel II on specific aspects of banking, such as small-business lending, mortgage lending, and mergers and acquisitions. A paper on credit cards is expected before year-end.
While the conclusions of the papers published so far do not point to broad disruptions in existing banking markets as a result of Basel II, we do acknowledge that, absent adjustments, certain participants in these markets could  be affected--especially in the small-business and residential-mortgage credit markets.