Risk managers wary of op risk securitisation

Sfr270 million transaction by Credit Suisse and Zurich thought unlikely to be copied due to SMA

credit-suisse-canary-wharf
Credit Suisse deal raises eyebrows, but may not draw imitators

Credit Suisse scored an industry first in May by securitising its operational risk exposures, but risk managers and industry experts say the transaction is unlikely to be replicated by other firms.

While other banks are intrigued by the deal and its funding structure, the transaction took years to come to fruition, and the level of investor interest was lower than initially anticipated. Moreover, likely changes to capital rules from the Basel Committee on Banking Supervision will stop banks

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