Emerging nations consider Basel II
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In fact, the Hong Kong Monetary Authority announced in sister publication AsiaRisk in July that it would not be permitting banks to use the advanced measurement approach at all. "It’s the only thing in Basel II we’re not going to allow initially because we don’t believe that building up elaborate systems for op risk is helping banks manage risk too much," says Simon Topping, executive director, banking policy. "We are expecting banks to focus their dollars on the management of op risk."
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