Sound practices paper expected in October

BASEL - International banking supervisors hope to issue their operational risk sound practice paper by the end of October, officials with the Basel Committee on Banking Supervision said in late September.

The paper, provisionally titled Sound Practices for the Management and Supervision of Operational Risk, is primarily intended as a guide for banks and their supervisors using the basic - or simplest - approach to calculating op risk capital charges under the Basel II banking accord.

Banks using the basic approach, which will entail a charge for op risk against a bank's gross income, are likely to be those outside the Group of 10 (G-10) leading economies.

The Basel Committee, which in effect

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