Developments of Note
Basel Committee Announces Further Delay of Accord
The Basel Committee on Banking Supervision (the "Committee") announced that the proposed revised Capital Accord (discussed in the October 23, 2001 issue of the Alert) will not be issued in early 2002, as earlier reported. The Committee stated that the delay resulted from its desire to "undertake an additional review aimed at assessing the overall impact of a new Accord" before the next proposal is released. The Committee did not say when the proposal would be issued, but it did not "believe that its additional review process will be a lengthy one."
OTS Takes No-Action Position on Section 23A Loans
The OTS confirmed (P-2001-8) that it would not recommend enforcement against a thrift with respect to a transaction raising issues under Section 23A of the Federal Reserve Act, as amended ("Section 23A"). The thrift had a subsidiary engaged in real estate development, and had loans outstanding to the subsidiary
