Risk.net – Steve Marlin
Data demands: institutions are struggling with the requirements of BCBS 239
Anxiety levels are rising among bank risk data professionals. Many of the world’s largest banks have failed to meet the January 1, 2016 deadline for compliance with the Basel Committee on Banking Supervision’s principles for effective risk data aggregation and reporting, known as BCBS 239. The industry will soon learn the consequences of non-compliance, with fines and capital add-ons seen as a real possibility.