Regulatory Alerts2022-05-17
Bank of Baroda Submission
Bank of Baroda submitted responses to a consultation on proposed regulatory reporting changes, particularly regarding the disclosure of breaches and the introduction of materiality thresholds. The bank suggested limiting breach publication to one year, found reporting "likely to breach" instances difficult to comprehend, and agreed a materiality threshold would reduce burden, provided it is clearly defined. They also preferred avoiding retroactive assessment for clarity and stated they would not require additional preparation time for the reporting notice.
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