Accordingly, when we issue the next Basel II proposals we also plan to issue an advance notice of proposed rulemaking to revise current capital rules. U.S. banking regulators have  BIS Review 39/2005  3  long recognized that the existing capital rules need to be appropriately updated.
Naturally, we need to understand the impact of Basel II on organizations that are adopting the new framework before we propose changes to Basel I. That is why we would like to allow the banking community to comment on a combined package of proposed changes.