Regulators talk tough in Basel’s CP3

COVER STORY

BASEL, SWITZERLAND

-- The Basel Committee on Banking Supervision made it perfectly clear through changes to the operational risk sections of Pillars II and III -- as well as in its general comments on the role of banking supervisors -- that the global regulators who sit on the committee are very serious about the creation of an operational risk capital charge, in spite of serious lobbying by both US and European banks for a softer approach to regulating op risk.

In the committee’s Overview of the

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