Basel Committee slams banks on data
The Basel Committee on Banking Supervision (BCBS) slammed global banks on Tuesday after it determined that only one had achieved full compliance with a set of principles aimed at improving risk data reporting.
The Principles for Effective Risk Data Aggregation and Risk Reporting were published in 2013 and included a deadline of January 2016 for 30 globally systemically important banks (G-SIBs) to comply by. Of the 11 principles, there was not one with which all 30 banks successfully complied.The Committee ...
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