Press releases | | | | Press Releases by category | | | | |
BIS home Press & speeches Press releases Basel Committee issues paper on range of practice in Advanced Measurement Approaches13 October 2006The Basel Committee on Banking Supervision released a paper today entitled
Observed range of practice in key elements of Advanced Measurement Approaches
(AMA).
The paper describes a cross-section of the practices supervisors have observed
in relation to some of the key challenges in the operational risk-related work
of banks targeting the AMA. It was prepared by the Operational Risk Subgroup of
the Accord Implementation Group using information obtained from members'
supervisory work, benchmarking exercises, discussions with banks'
management and other sources. The practices described in the paper are grouped
into three broad subject areas: internal governance, data and modelling.
Nout Wellink, Chairman of the Basel Committee and President of the Netherlands
Bank, said today, "The management and measurement of operational risk are
relatively new and rapidly evolving areas in the field of risk management.
Little information is publicly available concerning industry practice in these
areas. This paper represents an effort to address that information gap."
Mr Nick Le Pan, the outgoing Chairman of the Basel Committee's Accord
Implementation Group and Superintendent of Financial Institutions in Canada,
added, "Sharing supervisory experience with, and knowledge about, industry
practice in areas such as operational risk management will help to promote the
successful implementation of Basel II. As such, this paper should be of great
interest to supervisors and banks alike."
| Full publication | | | |
|