US regulators announce development schedule
New York - Regulators in the US have launched a series of initiatives designed to hone their approach to operational risk in preparation for the publication of a notice of proposed rulemaking in late 2005.
Judging from remarks made at the fifth annual Incisive Media OpRisk USA conference in New York, the Federal Reserve and the Office of the Comptroller of the Currency seem to have buried their differences over both Basel II and operational risk, and have firmly embraced the existence of a Pillar I capital charge. Both regulators are now emphasising the importance of operational risk management -- as opposed to measurement -- and indicating that their view is that measurement is simply a means
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