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What is Operational risk

The risks associated with the internal failure of systems or people, or the risk arising from external events. These are risk events such as internal fraud, the failure of internal IT infrastructure (e.g. for payment and settlement) or external factors such as terrorism, which have the potential to impact on the institutions ability to carry out its business.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2007-05-22 14:19:32

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