Caruana on risk management

In a speech to the 5th Annual Risk Management Convention given on 24 February, Jaime Caruana, Chairman of the Basel Committee, said impressive advances have been achieved in measuring and managing exposures to market risk, credit risk and, more recently, operational risk.

In recent years, for example, bankers have adopted an ever-widening array of databases, analytical tools, and sophisticated software packages to lend quantitative insight into risks that were once assessed mainly subjectively.

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