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Cutting edge l Operational risk Operational VAR: a closed form approximation Klaus B ocker and Claudia Kl Spielberg investigate a simple loss distribution model for operational risk. They show that,
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Operational var a closed refers to the state where the operational variable A is set to a closed or inactive status.
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The individuals or entities responsible for the management and oversight of operational variable A are required to file for its closed status.
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The information that must be reported on operational var a closed typically includes details about the reasons for closure, the date of closure, any relevant supporting documents, and any implications or consequences resulting from the closure.
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