Supervisors rewriting sound practices guide

NEWS

LONDON -- International banking regulators will probably rewrite their operational risk sound practices guidance to make it simpler and more basic, particularly in the light of the rogue-trading loss suffered by Allied Irish Banks (AIB).

"The first version was possibly a bit ambitious -- more ‘best practice’ rather than ‘sound practice,’" one regulator said. Regulators with the Basle Committee on Banking Supervision, the body that in effect regulates international banking, were making their c

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