The Basel Committee on Banking Supervision issued a new consultative document on November 28, 2008, providing guidance to bank supervisors in their assessment and examination of banks’ fair value accounting practices and the impact those practices could have on capital adequacy. While changes to the document are likely in response to public comments, bank directors and their legal advisors need to review it and any final guidance that may be issued to assess any new obligations imposed on directors. Non-compliance with those new obligations could result in a remedial action by a bank supervisor or a shareholder action seeking to impose liability on a director.

If you would like to know more about any of the topics mentioned above, please contact the White & Case lawyer with whom you regularly discuss these matters or any of the following lawyers:  

Glen R. Cuccinello
Counsel
+ 1 212 819 8239

Maureen D. Donovan
Partner
+ 1 212 819 8557

Ernest T. Patrikis
Partner
+ 212 819 7903

Duane D. Wall
Partner
+ 1 212 819 8453

Eric S. Yoon
Partner
+ 1 212 819 8677

Abraham L. Zylberberg
Partner
+ 1 212 819 8500

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