UK opposed to allowing wider op risk insurance role in European capital rules

FRONT PAGE NEWS

LONDON – UK regulators are opposed to the wider use of operational risk insurance to reduce capital charges under complex new European Union (EU) safety rules for banks and investment firms, regulatory sources said in November.

The European Commission, the EU’s executive body, said in November it would consider the use of insurance to reduce capital charges against operational risk under all three op risk approaches, from the simplest to the most complex, in rules it wants to bring into force in

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