Banks struggle with BCBS 239 implementation

Banks made scant progress complying with the Basel Committee on Banking Supervision’s (BCBS's) principles for effective risk data aggregation and reporting, known as BCBS 239, in 2017.

The standard-setter’s latest update on banks’ efforts to implement the 11 principles, which are intended to ensure that firms’ IT and data architectures are up to the task of supporting risk management activities, show that only three are fully compliant with all of them – far fewer than the 11 that were