EU welcomes Basle regulators' op risk paper

BASLE II UPDATE

BRUSSELS -- The European Commission, the ruling body of the European Union, welcomed the decision of global banking regulators to reduce the benchmark for an op risk capital charge to 12% from 20%, said a commission spokesman.

He was commenting on the working paper on op risk issued in late September by the Basle Committee on Banking Supervision, the body that in effect regulates international banking (see related article, this issue).

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The commission, whose officials attend Basle

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