Regulatory (US) В§ FFIEC - Federal Financial Institutions Examination Council National regulators indicated they were to implement Basel II, in В§ OCC - Office of the Controller of the Currency some form or another, by 2015.

Standards (Source: International Standards Organization - ISO) Documented agreements containing technical specifications or other precise criteria to be used consistently as rules, guidelines or definitions of characteristics, to ensure that materials, products, processes and services are fit for their purpose. There is, however, no practice that is best for everyone or in every situation, and no best practice remains best for very long as people keep on finding better ways of doing things. COM) Methods and techniques that have consistently shown results superior than those achieved with other means, and which are used as benchmarks to strive for.

' Best Practices (Source: Business Dictionary. Regulations generally are very specific in nature, they are also referred to as 'rules' or simply 'administrative law. Level Setting Definitions Regulations (Source: Georgetown Law School) A type of 'delegated legislation' promulgated by a state, federal or local administrative agency given authority to do so by the appropriate legislature.

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