More guidance needed
New York -- Most global banks feel they need clearer regulatory guidance on measuring op risk, according to a survey released in early June by Mercer Oliver Wyman (MOW), the New York-based consulting firm.
In its Global study of operational risk management practices, MOW found that about 60% of the 43 global banks surveyed felt they required clearer regulatory guidance on certain op risk issues related to Basel II, such as use of external data, implementation timing and home/ host issues. And yet, “despite uncertainty that their methods and techniques will meet regulatory standards, many
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