Insurers get amber light with some green

BASEL - Global banking regulators have signalled they might agree to a role for operational risk insurance in the Basel II bank capital accord.

The risk management group of the Basel Committee of banking supervisors told leading insurance companies in July that regulators could envisage a role for insurance in reducing op risk capital charges for banks using the advanced methods for calculating the charges.

"It's an amber light with some green in it," said one bank regulator, adding that insurers will have to show the Basel Committee, which in effect regulates international banking, detailed proposals that overcome the Committee's

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