Change is the only constant

Victoria Pennington

Regulators from the Basel Committee’s Standards Implementation Subgroup on Operational Risk (Sigor) have confirmed several times that, although they are looking at recalibrating the models for firms following the basic indicator (BIA) and standardised (TSA) approaches to op risk under Basel II, there are no plans for any changes to the rules in the latest update of the Accord, dubbed Basel III. Nevertheless, op risk managers are convinced the new rules, due in September, will contain ch