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I wrote:
> I would break it into two sentences, but you've proscribed that for
unknown
> reasons. It actually _is_ two sentences that have been (again for unknown
> reasons) collapsed into one. 'Having standards' and 'combining elements'
are two
> separate actions and belong in two separate sentences.
>
> Repeating the auxiliary (or not) is by no means "bad English", but does
nothing to
> improve the sentence.
>
> I would be tempted to try something like this:
>
> The bank should (a) have clear standards for the collection and
modification of all
> elements, and (b) combine these elements in a manner that most effectively
> enables it to quantify its exposure to operational risk.
>
Oooh, oooh, do I get to change my answer?
I'd also get rid of the nominalization of the verbs "collect" and "modify".
Thus:
"clear standards for collecting and modifying all elements"
BTW, sorry about the subject line in the earlier post.
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