Are the following statements true or false, please justify your answer in details?

1. Basel Committee definition of Operational Risk indicates that we need to analyze only the reasons behind potential losses to a bank? (4 marks)

2. The drivers of demand for Liquidity in banking sector arise from the need to make payments on deposits? (4 marks)

3. Market Risk in Banking Sector is the potential losses that my occur from the movement of market risk variables? (4 marks)

4. The main purpose of Control and Risk Self-Assessment is to review key inherent business risks the bank faces? (4 marks)