Analysis of alternative methods of operational risk transfer across financial industry sectors

Inaugural-Dissertation zur Erlangung des Grades Doctor oeconomiae publicae (Dr. oec. publ.) an der Ludwig-Maximilians-Universität München. Operational risk is not a completely new phenomenon in the banking sector. However, it did not come into the focus of regulators until recently. The increase of operational risks in banks has been triggered mainly by the recent developments in the Financial industry. The expansion of the Internet and modern technologies have enabled access to information and the foundation of electronic banking, at the same time creating risks of system breakdowns and hacking. As a result, operational failures have caused severe losses or have even led to bankruptcy of institutions. All of these factors were motivation for the Basel Committee on Banking Supervision to have a new look at operational risk in banking regulation.