Article 311a Definitions

For the purposes of this Title, the following definitions apply:

“operational risk event” means any event linked to an operational risk which generates a loss or multiple losses, within one or multiple financial years;

“aggregated gross loss” means the sum of all gross losses linked to the same operational risk event over one or multiple financial years;

“aggregated net loss” means the sum of all net losses linked to the same operational risk event over one or multiple financial years;

“grouped losses” means all operational losses caused by a common underlying trigger or root cause that could be grouped into one operational risk event.