Weary recognition of gross income as Basle IIop risk measure

BASLE II UPDATE

LONDON -- There was "weary recognition" among bankers that the use of gross income as a measure of operational risk was the least bad approach, said Richard Metcalfe, co-head of the European office of the International Swaps and Derivatives Association (Isda). He was addressing the London OpRisk 2002 conference in January.

Metcalfe was participating in a panel debate on the framework of the op risk capital charge proposed under the Basle II bank capital adequacy accord. Isda is the trade

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