Basel II op risk charge will help tackle concerns, says McDonough

BASEL II UPDATE

NEW YORK -- Banking supervisors believe that a separate capital charge for operational risk under the Basel II capital rules will bolster efforts to find better ways of addressing concern about the operational hazards faced by banks, the world’s chief international banking regulator said in mid-October.

That’s despite the fact that operational risk cannot be quantified with the same accuracy as credit or market risk, William McDonough, chairman of the Basel Committee on Banking Supervision, s

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