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Operational Risk and its Impacts on Financial Stability

In: CNB Financial Stability Report 2007

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  • Vera Mazankova
  • Michal Nemec

Abstract

This article illustrates the nature and significance of operational risk with regard to financial stability, using specific examples of major operational risk events in the Czech Republic and in other countries, and identifies the impacts of the newly introduced capital regulation of operational risk. It looks in detail at the incipient practice of risksensitive operational risk measurement using methods based on financial institutions' internal models. We also explore the issue of calculating the mandatory capital coverage for unexpected operational risk losses using group-wide models.

Suggested Citation

  • Vera Mazankova & Michal Nemec, 2008. "Operational Risk and its Impacts on Financial Stability," Occasional Publications - Chapters in Edited Volumes,in: CNB Financial Stability Report 2007, chapter 0, pages 94-104 Czech National Bank, Research Department.
  • Handle: RePEc:cnb:ocpubc:fsr07/4
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