To All Depository Institutions and Others  
    Concerned in the Second Federal Reserve District:

In a press release, the federal banking and thrift agencies issued an interagency statement on implementation of the Basel II framework and the qualification process for the framework's "advanced approaches."

The primary focus of the interagency statement is the appropriate scope and timing of institution-specific Basel II implementation plans and the qualification process to be proposed by the federal banking and thrift agencies for Basel II-based rules to establish minimum regulatory capital requirements.

Press release
SR letter (05-1)
Interagency statement

Contacts:
Darryll Hendricks
Senior Vice President
Financial Sector Policy and Analysis
Darryll.Hendricks@ny.frb.org

Lance Auer
Assistant Vice President
Financial Sector Policy and Analysis
Lance.Auer@ny.frb.org

Coryann S. Stefansson
Examining Officer
Financial Sector Policy and Analysis
Coryann.Stefansson@ny.frb.org

William L. Rutledge
Executive Vice President

Contact:
Public Affairs
(212) 720-6130
general.info@ny.frb.org