New op risk paper gets cautious welcome, but reservations remain
BASLE, SWITZERLAND -- Bankers gave a cautious welcome to the further thinking of global banking regulators on their controversial plans to make internationally active banks set aside capital against op risk under the Basle II banking accord.
The Basle Committee on Banking Supervision, the body that in effect regulates international banking and the architect of the Basle II accord, issued a working paper in late September. As expected, the document conceded ground on some issues, clarified others
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