CP3 respondents baulk at impact of Basel II on developing nations

BASEL -- Emerging market respondents to the operational risk portions of the third consultative paper (CP3) from the Basel Committee on Banking Supervision expressed concerns about the suitability of an op risk Pillar I capital charge for financial institutions in developing countries. Indeed, emerging markets were second only to US banks in the vociferousness of their opposition to the presence of op risk in Pillar I.

At the core of the opposition expressed by emerging market respondents is the

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