
32 Operational Risk Control
Chapter 1 has made reference to cooperative efforts among major banks – which
otherwise are competitors – aimed to establish, by working together, a richer
operational risk database than each could do on its own. Today, operational risk data
are in short supply, though some exceptions do exist here and there.
䊏 Cooperative databases will not succeed, unless classification and identification of
op risks are homogeneous.
䊏 At the same time, credit institutions should have the freedom to choose their own
methodology rather than having to live with a straitjacket.
The parallel code system presented later in the chapter reconciles ...