There was a revised version of the Accord released on 15 November 2005. The revised version is available from the BIS website.
This is acting to add in the double defaults paper released in July and also to make some other changes related to market risk. There are also detail changes throughout the document.
The changes incorporated may be important if you are dealing with credit risk mitigation techniques including the use of guarantees and / or VaR modelling (particularly as it relates to repos).
The new paras 284(i) to (iii), 307(i) and (ii) and 435 (i) incorporate the main changes relating to commercial banks, with credit derivative treatment varied by the changes to 689. The trading / VaR changes are more spread out, but 687(i) and (ii) may be of particular interest.
Para 710 on government-traded paper under standardised has also changed, but the changes do not look large in an Australian context; AAA to AA- minus paper is still zero rated.
Paras 738 and 778, relating to market risk, have been greatly expanded, adding in a lot more on stress testing and VaR use. Para 772 has been slightly changed and 777 has had major changes, both relating to credit and counterparty risk. There does not appear to be any other changes of any substance.
There is a new table 8 in para 826 for disclosures relating to counterparty credit risk and some detail changes relating to the market risk disclosures in the old table 10 (now table 11), but no further changes of any substance.
My compare algorithm was getting a bit confused towards the end of the document, so this analysis should be treated as preli