Retail banking accounts for two-thirds of op loss events, says Basle survey
BASLE II UPDATE
BASLE, SWITZERLAND -- Operational losses in retail banking accounted for two-thirds of the number of operational losses suffered by banks, according to a survey by global banking regulators. The survey sought data about the impact on major banks of the Basle II banking accord proposals for an op risk capital charge.
External fraud and execution & delivery failures in retail banking accounted for more than half the total of over 27,000 loss events recorded by 30 banks in 11 countries in Europe
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