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Constraints of Operational Risk Measurement and The Treatment of Operational Risk Under the New Base
Company: International Monetary Fund
Company Url: Click here to open
Year Of Publication: 2007
Month Of Publication: February
Pages: 60
Download Count: 490
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Comment Num: 0
Language: EN
Who Can Read: Free
Date: 5-13-2007
Publisher: Administrator
The move of international banking regulation away from rigid controls towards marketdiscipline, prudential oversight and risk-based capital guidelines has steered much attentionto operational risk management (ORM). Amid increased size and complexity of the bankingindustry, operational risk amplifies system-wide risk levels to financial transactions and has agreater potential to transpire in more harmful ways than many other sources of risk. Thispaper provides a comprehensive discussion of both qualitative and quantitative constraintson the sound implementation of operational risk regulation. After a review the principles ofORM, we explain the working concept of the current regulatory treatment of operationalrisk. In particular, we show how the varying characteristics of operational risk and differentmethods to identify, collect and report operational risk losses influence the reliability ofoperational risk estimates and the consistency of risk-sensitive capital rules. Our findingsoffer instructive recommendations for a consistent and cohesive implementation of theexisting capital rules within a more effective regulatory framework.t?
Jobst, Andreas Sign in to follow this author
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