Scrap ‘absurd’ op risk RWA framework, says Sands

Ex-StanChart chief exec advocates replacing current op risk capital framework with regulator-set buffer

Peter Sands
Peter Sands: no fan of the SMA

The former chief executive of Standard Chartered has slammed the current framework for calculating operational risk capital as not fit for purpose, advocating a radically different alternative that would replace the risk-weighted assets (RWA)-based approach with a capital buffer determined in part by prudential regulators.

Peter Sands, who served as the boss of StanChart for nine years until 2015 and is now a senior fellow at the Harvard Kennedy School in Cambridge, Massachusetts, says that

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