Diminishing resources

Victoria Pennington

As Basel III raises tier-one capital levels to 7%, and even as much as 10%, as recommended by an interim report from the UK’s Independent Commission on Banking chaired by John Vickers, one wonders whether the small proportion of required regulatory operational risk capital will diminish in importance and allocated resources. It is certainly a possibility. Already, too many front-office employees question the value of the operational risk management department, despite the financial crisis

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