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Bank Size, Consolidation and Operational Risk

In: Consolidation in the European Financial Industry

Author

Listed:
  • Veronica Crescenzo

    (University of Verona)

  • Flavio Pichler

    (University of Verona)

Abstract

With the accord entitled International Convergence of Capital Measurement and Capital Standards, issued by the Basel Committee on Banking Supervision in June 2006 (Basel II) and transposed into EU and member states legislation by Directives 2006/48/EC and 2006/49/EC, operational risk in the banking sector came to be defined and regulated for the first time. In particular, operational risk was no longer considered a residual risk with respect to credit and market risk, but was defined explicitly as the risk of ‘loss resulting from inadequate or failed internal processes, people and systems or from external events’.

Suggested Citation

  • Veronica Crescenzo & Flavio Pichler, 2010. "Bank Size, Consolidation and Operational Risk," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Roberto Bottiglia & Elisabetta Gualandri & Gian Nereo Mazzocco (ed.), Consolidation in the European Financial Industry, chapter 7, pages 113-130, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-27502-7_7
    DOI: 10.1057/9780230275027_7
    as

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