US loss data in the bag
BOSTON, MASSACHUSETTS – After a mildly controversial launch, the US regulatory agencies’ loss data collection exercise – part of the US’s quantitative impact study four (QIS 4) – seems poised to bear fruit.
While at one point there were industry rumours that only six firms were participating in the study, 21 ultimately turned in their LDCE forms. Eric Rosengren, senior vice-president at the Federal Reserve Bank of Boston, says the results have created a database of more than a million loss events, although most of those are at a value below $10,000. But much work lies ahead for regulators who are now
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