US and European banks discussing joint operational risk loss database

NEW YORK – US and European investment banks are discussing creating a single global operational loss database by merging the leading US and European databases holding information on banking losses from such hazards as fraud, technology failure and trade settlement errors.

North American banks that feed operational loss data to the Connecticut-based Multinational Operational Risk Exchange (More) and European banks involved in a new data initiative, the Basel Consortium (which has no

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