G-Sibs facing ‘a tall order’ in meeting 2016 data deadline, UK regulator warns

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Global systemically important banks (G-Sibs) will have their work cut out to meet risk data aggregation and reporting principles by a 2016 deadline, according to a senior official at the UK Financial Services Authority (FSA).

The 14 principles are set out in a consultation paper published by the Basel Committee on Banking Supervision in June – the consultation period closed on September 28. The paper suggests banks should be able to generate aggregate and up-to-date risk data in a timely manner,

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