FSA opens up to industry
LONDON – The UK’s FSA has published its proposed approaches to waiver packs for the advanced approaches under Basel II, and has stepped up its communication efforts to the industry overall.
In late July, the FSA posted its draft application process for the advanced credit and operational risk approaches, as well as a draft outline of the information that firms will require under the credit risk application process. The outline of required information for op risk is expected in January 2005. However, the FSA did not release the material as a consultation paper, but rather it put the documents on the Basel II/Capital Requirements Directive portion of its website.
"I think the industry
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