Basel II related IT spending to increase at European banks, says Celent

A senior analyst at the firm, Michael Haney, was commenting to Operational Risk on a Celent report in October on IT spending at European banks, which said that total IT spending by commercial banks based in the EU would reach €45.8 billion in 2002.

In an earlier study in August on financial institution compliance with Basel II, Celent predicted that global spending on operational risk activities would approach $12 billion by 2005. This figure includes in-house and external costs, which are no

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