Banks will need a decade to meet Basel's data challenge

Supervisors have given large banks three years for root-and-branch reform

david-rowe

Last September, I commended the Basel Committee on Banking Supervision for its plan to raise the industry’s risk data standards (Risk September 2013). Three months later, the committee produced its initial report, looking at the progress made towards its Principles for effective risk data aggregation and reporting,1 published at the start of last year. Several themes recur throughout this progress report, which is based in part on the banks’ self-assessments of their compliance wi