The Basel Committee on Banking Supervision’s document, Principles for effective risk data aggregation and risk reporting, also known as BCBS 239, may not seem imposing at first glance, but several large banks are facing difficulties in meetings its January 2016 deadline. Dan DeFrancesco talks to experts in the industry about what firms are struggling with, and why.
It is a giant iceberg. From above, it appears to be just a small mound of floating ice. Underneath the surface, however, it is a massive and complex, dwarfing what lies just above.