In the paper new design methods for multidimensional two-channel perfect reconstruction (PR) FIR filter banks are described. The filters have linear phase, achieve an arbitrarily high number of vanishing moments and can be used to obtain biorthogonal wavelet bases. Two-dimensional wavelet bases with square, rectangular, and hexagonal support are constructed. A design method that trades off vanishing moments and frequency selectivity is described. These two properties are both important in subband coding, but they each require a share of the degrees of freedom available from the total number of filter coefficients. Novel analytic formulae are derived and are applied to provide illustrative examples.