Regulatory Alerts2017-09-13
The Principles for Effective Risk Data Aggregation and Risk Reporting (BCBS)
The Saudi Arabian Monetary Agency directs all banks to review and incorporate the Basel Committee on Banking Supervision’s principles for effective risk data aggregation and reporting into their internal capital planning frameworks. Initially targeting systemically important banks, the framework mandates compliance for global systemically important banks by January 2016 and recommends domestic counterparts adhere within three years of designation. These requirements strengthen risk management, enhance rapid data provision by legal entity and business line, and ultimately improve institutional decision-making and resolvability.
Share