NPR release muddies the op risk waters
Operational risk executives are scrutinising the recently released NPR by the US Fed, which, despite clarifying some points, has nevertheless created new contentious issues. Choongo Moonga reports
The notice of proposed rulemaking (NPR), released by the Federal Reserve at the end of March, has handed both victories and defeats to operational risk managers and created several new potential battle grounds.
For many, the fact that the operational risk charge was included at all in the NPR was a huge relief as pressure for the removal of the charge from Pillar I remains substantial in the US. "The NPR confirms the operational risk charge and that gives banks certainty that the framework is on
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