The Basel II capital accord: op risk proposals in brief

Large international banks will be required for the first time from 2005 to set aside capital as a guard against op risk. The charge will be stipulated under Basel II, the new capital adequacy accord proposed by the Basel Committee on Banking Supervision, which chiefly comprises banking supervisors from the Group of 10 (G-10) leading economies.

The Basel II op risk charge will sit alongside those for credit and market risks already required under Basel I, the current Basel capital accord that

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