These banks, some of them hopelessly confused, cite lack of leadership from global banking regulators as the reason they have yet to get to grips with the implications of the op risk capital charges proposed for the first time under Basel II. Grant expressed this view when commenting on the results of a TCA survey published in August.
He said the survey’s findings show that many banks "are nowhere near having a concerted strategy for tackling operational risk".
Their attitude contrasts with a
To continue reading...
Start a Risk.net Trial
Register for a Risk.net Business trial to access this article. Sign up today and get access to: