Based on such interdependences, I want to stress the importance of developing a common cross-border payment vision and targets. It is a crucial initial task to reinforce momentum by setting more specific quantitative targets to address the four challenges: cost, speed, transparency and access.
Overall the approaches for operational risk assessment are not as nuanced as for credit risk, however the AMA approach does allow for more fine tuning. Once again the banks with better risk assessment would opt for the advance approaches. Market Discipline pillar underscores need for transparency and disclosure of data and technicalities.