European banks op risk losses dominated by business failures
Losses relating to accident and neglect account for 38% of op risk losses at eight big dealers
Large European Union banks were dogged by operational risk losses caused by failures regarding clients, products and business practices in 2017.
These type of events – which reflect failures to honour professional obligations through negligence or accident – made up on average 38% of all operational risk loss events across a sample of eight major EU dealers.
BNP Paribas attributed 60% of operational risk losses in the period 2009–2017 to this event criterion, citing a large settlement with
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