US banks review legal options against operational risk charge
WASHINGTON - US opponents of capital charges as a protection for banks against operational risk are not giving up the fight following the reaffirmation by global banking regulators of their faith in such charges.
"There’s still a lot to play for in terms of US law and the fact that the proposals must be reviewed by Congress," said Karen Petrou, who heads the Washington-based Financial Guardian Group (FGG), a coalition of US banks opposed to op risk charges.
Petrou was commenting on the July 10 agreement by the Basel Committee on Banking Supervision on most of the outstanding issues that had held up progress with the committee’s complex Basel II bank capital accord.
The committee, which in effect regulates
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