Banks await Basel decision on legacy op risk losses
European banks could see big jump in capital if losses from legacy businesses are included in SMA
Earlier this year, Credit Suisse went to its regulator with a plea for clemency. The firm’s Strategic Resolution Unit, which houses its non-core assets and business lines, was saddled with $20 billion of operational risk-weighted assets. But much of this was linked to activities the SRU had long since exited, and the bank wanted its regulator to let bygones be bygones.
The Swiss Financial Market Supervisory Authority (Finma) is not the only regulator to have fielded such a request. Risk.net und
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