Featured Product

    BCBS Assesses Progress in Implementing Principles for Risk Reporting

    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

    Featured Experts
    Related Articles
    News

    APRA Revises Standard on Margin Rules for Uncleared Derivatives

    APRA revised CPS 226, which is the prudential standard on margin and risk mitigation requirements for non-centrally cleared derivatives.

    September 19, 2019 WebPage Regulatory News
    News

    PRA Issues Consultation on Prudent Person Principle Under Solvency II

    PRA, via the consultation paper CP22/19, has set out its proposed expectations for investment by firms, in accordance with the Prudent Person Principle (PPP).

    September 18, 2019 WebPage Regulatory News
    News

    EIOPA Forms Consultative Expert Group on Digital Ethics in Insurance

    EIOPA established the Consultative Expert Group on Digital Ethics in Insurance to assist EIOPA in the development of digital responsibility principles in insurance.

    September 17, 2019 WebPage Regulatory News
    News

    FDIC Approves Proposal to Amend Swap Margin Rule

    FDIC approved what would be a joint proposal by the US Agencies (FCA, FDIC, FED, FHFA, and OCC) to amend regulations that require swap dealers and security-based swap dealers under the agencies’ respective jurisdictions to exchange margin with their counterparties for swaps that are not centrally cleared (Swap Margin Rule).

    September 17, 2019 WebPage Regulatory News
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    BIS Hosts Conference to Discuss Issues from Emergence of Stablecoins

    BIS hosted a conference in Basel to discuss policy and regulatory issues posed by the emergence of stablecoin initiatives backed by financial institutions and large technology companies.

    September 16, 2019 WebPage Regulatory News
    News

    BIS Paper on Embedded Supervision of Blockchain-Based Financial Market

    BIS published a working paper that investigates ways to regulate and supervise blockchain-based financial markets.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3830