A strong governance framework to prevent the manipulation of submitted data will be essential for any data-pooling initiative to aid compliance with Basel's Fundamental review of the trading book (FRTB), consultants warn. The costs, however, could deter participants and prompt alternative approaches.
"There needs to be a very carefully thought out governance framework around this. I think, looking through history, given how Libor was manipulated, there need to be a lot of checks and balances [a
The week on Risk.net, June 16–22, 2017Receive this by email