S&P questions Basel II

NEW YORK - Standard and Poor's anticipates significant challenges for banks to quantify operational risk as outlined in Basel II, even though it expresses general support for the Accord as a whole.

In a recent study, Basel II: No Turning Back for the Banking Industry, and in a September teleconference, the firm contends that operational risk assessment requires substantial qualitative analysis of factors such as ethics and integrity of management, quality of internal controls and management reporting systems.

According to S&P analysts Scott Bugie and Tanya Azarchs, developing a consistent methodology to quantify operational risks will prove one of the biggest challenges to bank

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