Category Archives: Operational Risk

Basel Committee is on the Clock

By | December 12, 2016

The great financial crisis was caused in large part by complexity: complex products, complex institutions, and complex counterparty networks. Yet, post-crisis regulatory reforms designed to prevent future financial crises, principally Basel III, are equally complex. Sophisticated actors easily exploit complex systems, and large banks certainly are sophisticated – if nothing else. Several empirical studies have… Read More »