Op risk charge flawed, says State Street


WASHINGTON, DC -- "It is difficult to see how a regulatory operational risk-based capital rule would have promoted the financial system’s rapid recovery on 9/11," said David Spina, chairman and chief executive officer of State Street Corporation, the Boston-based bank. would have taken time to access and systems rebuilding would have taken still more time, delaying the resumption of market activity, and creating significant systemic risk."

Spina was speaking at hearings held before the

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