BMO Financial Group selects Reveleus for Basel II Compliance
BMO Financial Group (BMO), the Canadian-based financial services corporation, has selected the Reveleus Basel II Solution for its Basel II compliance requirements.
Wendy Lockyer, BMO's senior vice-president responsible for Basel II implementation, says BMO will adopt the standardised approach for operational risk regulatory capital calculation, and the advanced internal ratings-based approach for credit risk. She says the amount of investment was the overriding factor in deciding whether to implement the standardised or the advanced measurement approach (AMA) for operational risk.
"We really did see a lot of benefit in spending so much money on
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