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.

 

Related Links

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

Related Articles
News

FSB to Evaluate Effects of Too-Big-To-Fail Reforms for Systemic Banks

FSB is seeking feedback as part of its evaluation of the effects of the too-big-to-fail reforms for banks.

May 23, 2019 WebPage Regulatory News
News

APRA Releases Minor Changes to Reporting Standards on SA-CCR for Banks

APRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).

May 22, 2019 WebPage Regulatory News
News

APRA on Industry Self-Assessments into Governance and Accountability

APRA released an information paper analyzing the self-assessments performed by 36 of the country’s largest banks, insurers, and superannuation licensees in response to the final report on the Prudential Inquiry into the Commonwealth Bank of Australia (CBA).

May 22, 2019 WebPage Regulatory News
News

PRA Consults on Maintenance of TMTP Under Solvency II

PRA published a consultation paper (CP11/19) that sets out its approach to update supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTP) under Solvency II.

May 22, 2019 WebPage Regulatory News
News

APRA Proposes to Amend Guidance on Residential Mortgage Lending

APRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.

May 21, 2019 WebPage Regulatory News
News

IASB Proposes Improvements to IFRS 9 and IFRS 16

IASB published the exposure draft ED 2019/2 that proposes amendments to four IFRS standards, including IFRS 9 on Financial Instruments and IFRS 16 on Leases.

May 21, 2019 WebPage Regulatory News
News

Denis Beau of BDF on Supervisory Priorities for Climate-Change Risks

Denis Beau, the First Deputy Governor of BDF, delivered opening remarks at the BCBS-BSCEE-FSI High-level Meeting for Europe on banking supervision.

May 21, 2019 WebPage Regulatory News
News

ISDA CDM to be Deployed for UK Digital Regulatory Reporting Pilot

ISDA announced deployment of the ISDA Common Domain Model (ISDA CDM 2.0) to support the UK FCA, BoE, and participating financial institutions in testing phase two of the Digital Regulatory Reporting pilot for derivatives.

May 21, 2019 WebPage Regulatory News
News

MAS to Consolidate Regulation of Merchant Banks Under Banking Act

MAS published a consultation paper that proposes to consolidate the regulation of merchant banks under the Banking Act and to move merchant banks to a licensing regime under the MAS Act.

May 21, 2019 WebPage Regulatory News
News

ESAs Amend Technical Standards on Mapping of ECAIs Under CRR

ESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).

May 20, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3118