Key detail covering grandfathering provisions and the
treatment of structured instruments are still missing from the
agreed Basel guidelines. Instead, lawyers are looking for
guidance from the G20 and a Bank of England report.
In the UK in particular, firms are holding back on giving
definite advice to clients until they hear from the team at the
Bank of England and UK Financial Services Authority (FSA) that
is drafting national measures on capital allocations.
Since late July theres been a team at the Bank
of England and the FSA frantically drafting rules on how...