Principles for effective risk data aggregation and risk reporting - consultative document.
The financial crisis that started in 2007 revealed that many banks, including global systemically important banks (G-SIBs), were unable to aggregate risk exposures fully and quickly. This meant that banks' ability to take risk decisions in a timely fashion was seriously impaired with wide-ranging consequences for individual banks and the stability of the financial system as a whole. The Basel Committee's proposed Principles for effective risk data aggregation and risk reporting - consultative documentare intended to strengthen banks' risk management capabilities. This should ensure banks are better prepared to cope with stress, hence reducing the potential recourse to tax-payers.
The Basel Committee welcomes comments on this consultative document. Comments should be submitted by Friday 28 September 2012 by email to: email@example.com. Alternatively, comments may be sent by post to the Secretariat of the Basel Committee on Banking Supervision, Bank for International Settlements, CH-4002 Basel, Switzerland. All comments may be published on the Bank for International Settlements' website unless a comment contributor specifically requests confidential treatment.
- Publication Date: June 2012
- Publication Type: Consultative
- Publication Status: Closed
- Publication Category: Supervision
- Number of Pages: 24
- Keywords: Operational Risk, Risk Management, Data Aggregation, Governance, Risk Reporting, Supervision, G20 Reforms
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