Banks stride towards BCBS 239 implementation

Banks made progress towards complying with the Basel Committee’s principles for effective risk data aggregation and reporting, known as BCBS 239, in 2018. 

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 all global systemically important banks (G-SIBs) are at least in partial compliance with the rules.

However, an