Banks need to create multi-business strategy for collecting loss data


LONDON -- Banks need to create a detailed "multi-business" strategy to ensure operational loss data needed for the advanced approaches to measuring op risk under the Basle II accord is accurate and timely, Mike Thrower, marketing director at software supplier Wall Street Systems, said in April.

Banks using the advanced approaches will need to collect at least a year’s worth of loss data across the whole range of their business to qualify, Thrower noted -- hence the need for an organised approach

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