Boston Fed publishes new op risk paper

The Federal Reserve Bank of Boston published another ground-breaking paper on operational risk in mid-June.

Implications of alternative operational risk modeling techniques was authored by Patrick de Fontnouvelle and Eric Rosengren of the Boston Fed, and John Jordan, now with FitchRisk. It uses data supplied by six large internationally active US banks to determine if loss data is regular enough to make consistent modelling of operational losses possible. The authors found that “there are similarities in the results of models of operational loss across institutions, and that our results are

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