Debate and controversy mark Op Risk 2003 events
Delegates at the fifth annual Operational Risk and Risk magazine operational risk conferences in London and New York this March were treated to what one speaker described as a "smorgasboard" of discussions on the subject. Attendees could choose from topics ranging from mathematical techniques for overcoming a lack of operational loss data to internal audit and risk control as part of the operational risk management process.
NEW YORK - Presentations by the Federal Reserve supervisors and the Office of the Comptroller of the Currency (OCC) at the OpRisk 2003 USA conference revealed that the chances of adoption of the Basel II banking accord in its current form in the US remains uncertain. US banking agencies will release an Advanced Notice of Proposed Rulemaking (ANPR) to outline Basel II compliance. A US Notice of Proposed Rulemaking are expected at year-end.
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