...used to determine the values of assets or liabilities. the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events. the risk of loss arising from adverse changes in market prices, including interest rates, foreign exchange...

...Committee has adopted the standard industry definition of the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events.45 This will not include strategic or reputational risk at this stage which will be considered...

...Swaps and Derivatives Association, British Bankers' Association, and RMA as "the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events."1 Examples of losses that can be attributed to operational risk include failed securities trades,...

...Consultative Package, operational risk was defined as: 'the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events'. The January 200 I paper went on to clarify that this definition included legal risk, but that strategic...

...capital purposes. This leads to a slightly revised definition, as follows: 'the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events'. The RMG confirms that this definition does not include systemic risk and the operational risk charge...

...money laundering context. Operational risk refers to "... the risk of direct or indirect loss resulting from inadequate or failed internal processes, people, and systems or from external events74." Money laundering is a form of operational risk. Where the know-your-client procedures set...

...Association, British Bankers' Association, and Risk Management Association as "the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events."1 Examples of losses that can be attributed to operational risk include failed securities trades,...

...Supervision writes on page 2 that operational risk is 'the risk of direct or indirect loss resulting from inadequate or failed internal processes, people and systems or from external events' and adds the footnote ''This definition includes legal risk'. One could make a case that such a broad definition...

...Operational risk is defined by the Basel Committee on Banking Supervision as "the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." Developments such as the increasing use of highly automated technology, the increase in retail operations...

...purposes. Thus, the revised definition states that operational risk is 'the risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events'. This causal-based definition attributes the occurrence of an operational loss to four main reasons:...