APFIC 2014: Firms Must Focus on Data Integration to Meet Risk Regs

Banks have just over a year to address data integration challenges of Basel's new risk requirements


In January 2013, the Basel Committee released regulation BCBS 239─Effective Risk Data Aggregation & Risk Reporting─which outlined 11 risk data aggregation principles that firms must comply with by Jan. 1, 2016. The principles─part of the Basel Committee's review of what caused the 2008 global financial crisis, and how to prevent a second crisis─are designed to ensure that banks have an aggregated view of all the risks they face.

In the Asia-Pacific region, new areas of risk include the emerging

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