Regulatory Update

Central banks behind curve on op risk -- A new study by Royal Bank of Scotland on central banking practices around the world shows that the majority of central banks do not have specific operational risk policies in place. A question in the study that asked if central banks have an operational risk policy for reserve management showed that only 29 out of 63 respondents had specific operational risk policies. Management of op risk was carried out centrally only in a few banks, but bankers said

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