Op risk modelling under fire

Editor's blog

The subject of the validity of operational risk modelling has been raised again in a UK House of Lords report, in which commentators refer to op risk modelling as "very dangerous" and "hard to justify". Although there are valid arguments surrounding this issue, the presence of this one paragraph buried in a report on banking regulation and supervision seems a little odd, rather like an afterthought to stick in there so that they appear to know all about the risks involved with modelling

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