ABA sets up new op risk committee

The American Bankers Association (ABA) has created a new operating risk committee to help bankers reduce losses and comply with new capital requirements laid out in Basel II, the new regulatory capital accord being devised by the Basel Committee on Banking Supervision.

The ABA committee includes senior managers at 10 US banks and aims to boost its numbers over the coming months. Top of the committee’s agenda is to develop a peer group reporting programme designed to collect, analyse and compare participating banks’ op risk events. This will take place on a confidential basis and include data related to robbery, workplace safety, internal fraud and computer security.

The timeframe should give participating banks three years of benchmark data ahead of the

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