Spreading the risk

Operational risk

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Three years ago, when Dublin-based commercial real estate investment and lending specialist Anglo Irish Bank began to prepare for Basel II, it decided to build a new model for estimating the credit risk of its property deals. The model would comprise two parts - a macroeconomic forecast generator and a cashflow calculator. While the assumptions underlying the economic forecast tool were unlikely to change over time, the changing nature of the property market meant the bank needed flexibility

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