I have been told that the revised manual will include not only updates reflecting changes in regulations and supervisory guidance over the course of the past year, but also, among other things, additional guidance on developing a BSA/AML risk assessment, which is the foundation of effective risk-based controls.
This assessment was confirmed in a recent and comprehensive study by the Eurosystem’s staff on inflation differentials in the euro area. [“Inflation differentials in the euro area: potential causes and policy implications”, European Central Bank, September 2003, Publications.]