February 2007
Intermediate to advanced
280 pages
15h 37m
English
Content preview from Value at Risk and Bank Capital Management
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CHAPTER
♦
5
Operational Risk and Business Risk
While market and credit risks are clearly at the heart of bank activity, operational risk
and business risk play an important role as well. Operational risk has gained increasing
attention since the mid-1990s not only because of banking crises (e.g., Barings), which
were driven mostly by fraud, human error, and missing controls, but also because the
Basel Committee made clear since 1999 the intention to introduce a new regulatory capital
requirement for operational risk in addition to market and credit risk. The Basel Com-
mittee also proposed a regulatory defi nition of operational risk, whose bou ...
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