Operations performance indexes
Top five op risk loss events in August 2007
1.
Loss amount: $82,750,000BIS event type: Failed mandatory reporting obligation
Firm: First BanCorp
BIS business line: Retail banking
Domiciled in: Puerto Rico
Settlement date: August 7
Product type: Adjustable-rate mortgages
The SEC filed financial fraud charges against First BanCorp, alleging that former senior management of the NYSE-listed bank holding company had concealed the nature of transactions involving non-conforming residential mortgages from 2000 until 2005. First BanCorp agreed to a
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