US regulators: "Let the industry lead the way on operational risk"

- Risk Staff
- 01 May 2003

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WASHINGTON, DC -- Federal Reserve Board vice-chairman Roger Ferguson urged his fellow regulators to let the banking industry lead the way on the development of an operational risk framework, while speaking at the "Risk Management Workshop for Regulators" held by the World Bank in late April.

Ferguson said that regulators should allow the banking industry to take the lead in developing modelling frameworks for operational risk geared towards producing a capital charge under the advanced

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