Who will choose Basel II? All large banks--except the very biggest, who have no choice--are thinking hard about opting in, even before the U.S. regulators develop detailed rules.(Capital Risk Management)

ABA Banking Journal, November, 2004 by Milligan, Jack

Earlier this year, as global negotiations on the Basel II Capital Accord were nearing their conclusion, Charlotte-based Wachovia Corp. spent three months analyzing the gap between its current risk management practices and those that would be required under the new agreement. Wachovia had held many discussions with U.S. bank regulators and other policymakers during Basel II's ten-year gestation period and now it wanted to size up the implementation challenge. "What we found out was that it was bigger than a breadbox," deadpans David Brooks II, senior vice-president and manager of treasury policy, research and analysis. "It was more like a freight train."

Basel II, which will impose a vastly more comprehensive capital framework on the largest U.S. depository...

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