Federal Reserve Bank To Create Op Risk Team

NEWS

NEW YORK--The Federal Reserve Bank of New York is re-organising many of its bank examiners into specialist teams dealing with operational, credit and market risks.

The objective is to focus examiner expertise on each risk sub-set -- particularly in the fast-developing area of operational risk.

The reorganisation will be largely in place by June, and will take effect in bank exams from the summer onwards in a rolling programme.

The new operational risk department for the New York Fed will be

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