Information of Prudential Relevance 2014

6.1. Operational Risk definition

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BBVA accepts the definition of Operational Risk proposed by the Bank for International Settlements (BIS) in Basel: "Operational Risk is defined as the one that could potentially cause losses as a result of human errors, inadequate or faulty internal processes, system failures or external events". This definition excludes the strategic and/or business risk and the reputational risk (which is managed separately within BBVA Group).

The definition of Operational Risk (OR) in BBVA Group includes the following types of risk:

  • Processes.
  • External and internal fraud.
  • Technological.
  • Human resources.
  • Commercial practices.
  • Disasters.
  • Suppliers.