In search of clarity and focus

BASLE II UPDATE

Greater precision is needed in defining operational risk, but the Basle regulators' latest thoughts are lost in generalities, says Jacques Pézier, in the final article of a three-part series

The Basle Committee should be commended for turning the industry's attention towards the still-relatively-obscure but -- with greater information and rapid innovations -- increasingly important area of operational risk.

But meeting the criteria proposed by international banking regulators for more effectiv

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