Uniform? Op risk capital rules go their own ways

Europe and Canada set to include historical losses in new standardised approach; Australia probably not


An effort to harmonise op risk capital rules around the world appears instead to be another case of regulation fracturing into national variants right out of the gate.

In 2017, national regulators were given leeway under Basel III to allow banks to ignore the impact of past losses when calculating capital under revisions to the new standardised approach – with the potential to dramatically affect how much capital lenders would be required to hold.

So far, Europe, Australia and Canada appear to

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