Exchanging times
A new consortium for op risk loss data exchange, DakOR, has been launched in Germany. Carsten Steinhoff and Sanjay Merchant analyse its roots and consider its impact on the market
Operational risk is attracting increasing interest throughout the banking industry. From a statistical point of view, bigger banks need high quality external loss data to complement their limited internal loss collection history. Furthermore, the use of external data is absolutely necessary to fulfil regulatory requirements such as Basel II, in with regards to the advanced measurement approach AMA
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