Banks struggling to meet AMA requirements on time
NEW YORK – Several banks might not be able to meet the new implementation deadline of year-end 2007 for the advanced measurement approach (AMA) for op risk management, according to a global survey by consulting firms Mercer Oliver Wyman (MOW), Accenture and SAP.
Global banks reported significant challenges in their efforts to satisfy the requirements of the new Basel II framework. Less than half of all banks surveyed are targeting the AMA by 2007, although 71% expect to attain that status by 2010. Over 80% of European and US banks said they are targeting one of the internal ratings-based approaches for credit risk by 2007, according to the report.
However, the survey results show that a substantial number of global banks remain uncertain over how much
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