US Fed working on horizontal reviews of op risk issues

ben-bernanke-fed-2010

Although US regulators have not referred to the need to reform operational risk management regulation specifically, the Federal Reserve System has undertaken a series of horizontal reviews looking at op risk issues such as the Internal Capital Adequacy Assessment Process (Icaap), compliance risk and compensation. These are part of a broader programme of horizontal reviews looking at large, complex banking organisations (LCBOs). The Fed is also working on a horizontal review of the commercial

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