Banks operating in Asia will have to sharpen their negotiating skills if they want to follow global guidelines on effective risk data aggregation, as local data laws give national regulators a lot of control over what information can and cannot be shared across borders.
The Principles for effective risk data aggregation and risk reporting, published by the Basel Committee on Banking Supervision in 2013 and known as BCBS 239, are aimed at preventing a repeat of banks' failure to quickly trace
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