The vast majority of U.S. banks would be able to continue operating safely and profitably 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.
The agencies believe that now is another appropriate time to amend the Basel I rules. Concerns have been raised about potential competitive inequities between Basel II banks and Basel I banks. We take these concerns seriously and sought input from the industry and other interested parties in the Basel I ANPR process.