UK accepts large banks could use basic op risk approach

"Equally, we see no reason why a smaller firm with sophisticated risk management systems should not use an advanced measurement approach, although in practice there may be cost-benefit limits here for smaller firms," the UK Financial Services Authority (FSA) said.

And banks using, say, an advanced approach to credit risk may use a non-advanced approach to op risk.

But over time the agency expects the number of UK banks and investment firms using advanced approaches to increase.

The FSA made the

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