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June 21, 2018

BCBS published the progress report on the implementation of the principles for effective risk data aggregation and reporting by banks. The progress report is based on the results of a self-assessment survey completed by authorities with supervisory responsibility for global systemically important banks (G-SIBs). The report reviews G-SIBs' progress in implementing the principles in 2017.

The assessment shows that, in 2017, most G-SIBs made, at best, marginal progress in implementing the principles. G-SIBs have found it challenging to comply with the principles, mainly due to the complexity and interdependence of IT improvement projects. Consequently, the expected date of compliance has slipped back for many banks. In view of this outcome, and to promote further adoption of the principles, BCBS has made the following recommendations:

  • Banks should continue to implement the principles according to the roadmaps agreed with their supervisors and consider how implementation would benefit other data-related initiatives and requirements
  • Supervisors should maintain their emphasis on ensuring that banks fully implement the principles. This includes meeting with banks' boards of directors and/or senior management in 2018 to receive updates on implementation progress. Supervisors should also continue to promote home-host cooperation in relation to the implementation of the principles by global banking groups.

The current assessment covered 30 G-SIBs designated in 2011-12 that were required to adopt the principles by January 2016. An earlier progress report, which was published in March 2017, assessed implementation during 2016. The principles for effective risk data aggregation and reporting were issued in January 2013; these principles aim to strengthen banks' risk data aggregation and risk reporting with a view to improving their risk management, decision-making processes, and resolvability. BCBS will continue to monitor G-SIBs' progress in adopting the principles and plans to conduct the next assessment in 2019.

 

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Keywords: International, Banking, Risk Data Aggregation, Risk Reporting, G-SIBs, Risk Management, Principles, BCBS239, BCBS

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