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Types of operational risk loss by event, February 2008 to February 2010

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Four of the top-five losses reported in February were ‘clients, products and business practices’ events. Two of the top losses were related to the events of the 2008 financial crisis, with one event concerning Bank of America’s acquisition of Merrill Lynch and the other Citibank’s sale of Lehman Brothers products. Many of the banks that sold Lehman-backed products in Europe and Asia have extended restitution offers to clients in the past

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