Range of practice in operational risk measurement
Rocky path to convergence
It is common in risk management industry gatherings to hear that operational risk measurement as a discipline is still in its early stages. This is to a certain point to be expected since Basel II was signed only eight years ago and has still not even been officially implemented in the US. However, compared with market and credit risks it is taking considerably longer for operational risk measurement to take off as a mature discipline.
As a comparison, in market risk the first value-at-risk
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