8  BIS Review 108/2010  Employment has been growing strongly, in fact more strongly than would normally be associated with recent rates of increase in GDP, and the unemployment rate has fallen significantly since mid 2009, to around 5¼ per cent (Graph 8).
operational and legal risks, too. Consequently a licence to use credit risk models or generally new risk management techniques must not result in weaker capital requirements for banks considering generally rising risks in the financial world. Precisely the recent financial crises demonstrate how difficult it is to determine bankspecific risks with sufficient accuracy.