CP189: the FSA yet to clarify rules for key op risk issues

Said an FSA official, "we think waiting here was better than jumping ahead of Basel/EU and UK discussions".

CP189 follows on from discussion paper 13, issued in July 2002, but it does not include information on the FSA’s approach to either pillar II (supervisory oversight) or pillar III (market discipline) of the revised Basel Accords. Nor does it offer draft rules or guidance, which will be covered in new Prudential Sourcebook text, expected to be published by the FSA in mid-2004.

ORIAG future

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