No op risk surprises in QIS 3

BASEL - Some 265 banks in more than 50 countries were absorbing the contents of the key QIS 3 survey, which seeks information on how the complex Basel II capital pact would affect them, as Operational Risk went to press.

But the op risk aspects of QIS 3 - the third Basel II quantitative impact study - caused bankers few, if any, surprises. The so-called pillar 1 protective capital charges and other provisions suggested in QIS 3 were foreshadowed in previous papers issued by global banking regulators and also in a preview of QIS 3's op risk section that was sent to bankers in August and September.

And the difficulties of developing advanced approaches to measuring op risk means the regulators are unlikely to

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