Operations performance indexes
The US Government Securities Operations Performance Index (USGOPI) closed the year at 69 basis points, showing slightly less volatility in December. The one-year rolling average for the USGOPI continues the trend begun in May last year towards greater instability - operating outside the best benchmark performance band on the OPERA® Performance Benchmark Scale for the past two months. In contrast, the Mortgage Backed Securities Operations Performance Index deteriorated slightly to 28 basis points but generally remained in or near the best-performance band for December. Fred Sommers, Basis Point Group
Top five op risk loss events in December 2007
1.
Loss amount: $441,000,000BIS event type: Fiduciary breaches/guideline violations
Firm: Deutsche Bank Group
BIS business line: Corporate finance
Domiciled in: Germany
Settlement date: December 19
Product type: Corporate finance
Deutsche announced that it had reached a $25 million settlement with Enron Creditors Recovery Corp. Deutsche also agreed to forfeit $416 million in claims against the Enron estate. The Enron recovery entity originally filed suit
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