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Non-financial risks (NFR) are all of the risks which are not covered by traditional financial risk management. [1] This negative definition resembles the initial definition of operational risk , and it depends on the bank or corporation whether or not they use the term operational risk synchronously with NFR.
A prominent example is the bank holding company Bank of America Corporation, whose bank subsidiary, Bank of America, N.A., offers bank services and products, while such non-bank subsidiaries as Banc of America Investment Services, Inc. and Banc of America Securities, as well as Banc of America Insurance Services, Inc., offer investment ...