BOSTON, Nov. 2 /PRNewswire-USNewswire/ -- With U.S. banking regulators
announcing Basel II rules today, the financial services industry is closely
examining how the new requirements will affect capital and risk management
practices, and the impact they will have on the competitive landscape in
the banking sector.
Greg Lyons, a partner with the law firm Goodwin Procter, is a leading
financial institutions expert and available to comment on the Basel II
regulations. Lyons has been at the forefront of the proposed regulatory
changes throughout the process and has advised clients regarding their
industry-based responses to the regulators' proposed rules, steps they
should take in anticipation of Basel II, and competitive benefits the rules
may provide.
Lyons can discuss all aspects of Basel II, including:
- the steps banks need to take in order to implement Basel II in 2008.
- how the U.S. regulations compare to the international version that
foreign banks use.
- how Basel II will affect U.S. banks as they compete with European
institutions globally.
- how smaller U.S. banks will need to adapt their strategy as they
compete under a different capital system from the largest U.S. banks.
- the new rules being proposed for the other "non-core" U.S. banks.
Lyons is chair of Goodwin Procter's Financial Services Group and
Banking Practice. He concentrates his practice principally in the banking
area and engages in U.S. and foreign bank regulatory matters. Lyons has
represented banking and other financial institutions before the Federal
Deposit Insurance Corporation, the Federal Reserve Board, the Office of
Comptroller of the Currency, the Office of Thrift Supervision, the
Securities and Exchange Commission, and state banking and securities
regulatory agencies.
For background, Basel II is an effort by international banking
supervisors, including the United States, to update the original
international bank capital accord (Basel I), which has been in effect since
1988. The revised accord aims to improve the consistency of capital
regulations internationally, make regulatory capital more risk sensitive
and promote enhanced risk management practices among large, internationally
active banking organizations. The new rules are anticipated to go into
effect in January 2008.
About Goodwin Procter
Goodwin Procter LLP is one of the nation's leading law firms with 850
attorneys in offices in Boston, Los Angeles, New York, Palo Alto, San
Diego, San Francisco, and Washington, D.C. The firm's core areas of
practice are corporate, litigation and real estate, with specialized areas
of focus that include financial services, private equity, technology, REITs
and real estate capital markets, intellectual property and products
liability.
SOURCE Goodwin Procter LLP
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Related links:
http://www.goodwinprocter.com
CONTACT:
Jill Reilly of Goodwin Procter,
+1-617-570-8783, jreilly@goodwinprocter.com
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