Risk, Data And The Supervisor The Clock Is Ticking …

Introduction

Resilience and transparency are driving a regulatory focus on data within G-SIBs, but the clock is ticking for all banks

This paper provides a Deloitte perspective on the recent Basel Committee on Banking Supervision (BCBS) consultative document 'Principles for Effective Risk Data Aggregation and Risk Reporting'.¹ We present a point of view on the regulatory drivers for change within the industry, the implications for banks and discuss the actions that should be undertaken over the coming months.

The BCBS proposes 14 principles to ensure that data and associated processes used by the risk function are "fit for purpose". Global Systemically Important Banks (G-SIBs) are required to implement the principles in full by the beginning of 2016. However, they will need to submit a self-assessment against the principles to their local supervisor in 2013.