Bank of Tokyo-Mitsubishi to use OpVar on a global basis

Bank of Tokyo-Mitsubishi (BTM), the Japanese banking institution, plans to use OpVar, the operational risk management application, on a global basis. OpVar was developed by US risk software firm OpVantage, which Fitch Risk Management bought earlier this month. BTM originally signed up to use OpVar for its US business in December 2000 to assist with its risk-adjusted return on capital analysis.

"Expanding BTM's use of OpVar furthers our commitment to theongoing measurement and management of operational capital on a firm-wide basis," said Mark Balfan, BTM's head of risk management for the Americas region.

OpVar enables financial institutions to apply modelling techniques to operational risk using mathematical tools originally developed for the property and casualty insurance industry.

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