IN BRIEF
ISDA finished off its official 60-page response to the Basel Committee's proposals for changing the Capital Accord in mid-February, and published the document on 1 March. As indicated in last month's Operational Risk, the industry is not happy with the proposals for a capital charge on banking op risk. In a six-page section on op risk, ISDA made it clear that it thinks an industry-wide charge for op risk "would be poorly specified and would introduce many distortions into the world's financial
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