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Loss Data & Standards Community

Risk programme

Standards, Taxonomies & Libraries

Standard - June 2023

An industry loss event (ILE) is an operational risk event resulting from a common cause or set of events and is experienced by many firms. ILEs only apply to large loss events. 

Examples include the mis-selling of Payment Protection Insurance (UK), the mis-selling of Mortgage Back Securities (USA), LIBOR Manipulation (International), and FX Manipulation (International).













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John Bosnell

John Bosnell

ORX Standards Senior Manager, ORX


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