Capital charges not enough to protect banks against op risk, says Moody’s

Encouragingly, some banks - but not all - are broadening their approach beyond the framework proposed by global banking regulators in their Basel II bank accord and are addressing the true challenges of operational risk for their organisation, Moody’s Investors Service said in a report on operational risk.

Moody’s said its focus on operational risk is becoming more central to its assessment of the credit worthiness of banks.

The agency said the risk-based Basel II capital accord, which from

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