Although the Bank for International Standards unveiled what's intended to be the final draft of the new Basel II accord, professionals on both sides of the Atlantic believe there may be some further tweaking before the year-end 2006 implementation date.

The 250-page document replaces the 1999 framework for bank capital adequacy (Basel I). Basel II incorporated changes adopted through several consultative papers released for commentary over the years, and three "quantitative impact studies."

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