Collateral damage: what HSBC's troubles mean for AMA
The HSBC debacle highlights a problem with the advanced measurement approach to operational risk capital
A week into the scandal over claims HSBC helped clients avoid paying tax, the bank's pride and a former chairman took the brunt of the damage. The group publicly apologised for lax erstwhile controls at its Swiss private banking arm, while Stephen Green resigned from a senior position at TheCityUK, a finance lobby group.
But something beyond the bank also took a hit: the modelling method of calculating operational risk capital and, with it, the chances of smarter risk governance.
With the US
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