The Problem of Information Asymmetry in Operational Risk Management of the Russian Federation Central Bank

The thesis is devoted to the study of the problem of asymmetric information in the management of operational risks in the Bank of Russia system. The paper examines in detail the main issues relating to the asymmetry of information and its impact on the financial stability of the organization. The methods for calculating the values of operational risk and reserves covering operational losses in the organization are also examined in detail. The relationship between the asymmetry of information in the sale of Bank of Russia bonds and the operational risk management of the Central Bank has been built. The main problems were identified and the most effective model for assessing operational risks and reserve requirements to cover operational losses was determined. The study was conducted on a sample of 2,605 observations on the yield of government bonds and bonds of the Central Bank. Also, the study sample included 40 operational risk assessments calculated by the base approach, and 54 estimates calculated by the modified approach. The study showed that the new approach being introduced by the Central Bank to the assessment of operational risks and the method of calculating capital requirements to cover operational losses is the most effective compared to the one currently used.