Op risk loss exercise gets good response ahead of QIS 3

But they said in early September that it was too soon to judge the quality of the data needed to help banks and their regulators measure the extent banks are at risk from such operational hazards as fraud, technology failure and trade settlement errors. The deadline for replies was August 31.

"More banks replied to this exercise than the previous one last year," said one regulator, "but it’s going to take several weeks to assess the quality of the information".

The regulators were commenting

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