Cebs responds to critics with new op risk paper


LONDON – A second consultation paper from the Committee of European Banking Supervisors (Cebs) has assuaged critics of the first draft, who see it as a “substantial revision” and an “improvement on the previous paper”. Cebs’ revised set of draft guidelines on the management of operational risk in market-related activities was issued at the end of June in response to vociferous feedback from the industry to the original paper published earlier in the year. A