AIG to form cross-border op risk sub-group
Basel -- The Basel Committee on Banking Supervision’s Accord Implementation Group (AIG) will shortly form a sub-group to focus on cross-border op risk issues, according to several regulatory sources. Regulators and the industry are pressing for a greater role in op risk for the AIG to help iron out kinks in the implementation of the January Basel paper, Principles for the home-host recognition of AMA operational risk capital .
In a mid-May announcement, the Basel Committee also indicated that the AIG would be exploring op risk issues more closely. Says a source close to the Basel Committee: "Until this point it has primarily focused on credit risk issues. But I think there is realisation – particularly since the home-host paper – that the AIG has a role to play in the op risk arena as well."
Nicholas Le Pan, head of the AIG, was not available for comment at press time. But regulatory sources say the group will
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