Data is key to complying with a growing raft of ever more demanding and granular rules. However, a new survey finds that banks are struggling with integrating their regulatory workflow data due to the constantly changing regulatory landscape.
Reporting and Governance
EBA publishes final ITS draft on supervisory disclosures
In a bid to improve consistency and transparency, the EBA has published its final draft amending Implementing Technical Standards.
FSB consults on draft Cyber Lexicon for use by authorities and industry
The FSB is consulting on the most appropriate terms and definitions to use in its cyber lexicon with a view to presenting a final version at the G20 Summit in November.
Court clarifies ‘fair market value’ meaning in LBI vs Raiffeisen Bank case
The definition of fair market value was revisited in a court case involving two banks and yet again demonstrated the difficulties in coming up with a definition, particularly when a default occurs in volatile market conditions and involves illiquid instruments
The growing importance of the chief risk officer
The torrent of new rules since the global financial crisis has thrust the chief risk officer into becoming a key participant in the formulation of strategy within banks. By Alessandro Vecci, senior partner, risk & regulatory consulting lead Europe at Genpact.
Tough conduct rules reshaping banking culture
The UK’s tough conduct regime for senior managers appears to be prompting financial institutions to engage in a deep rethink of their governance and operational procedures, but it could also be having some unexpected consequences
Transforming bank cultures takes years says Fed president
A US Fed president says instituting good banking cultures is a multi-year task and maintaining them requires ongoing work
Global banks struggle with implementing risk data principles
The Basel Committee on Banking Supervision said the big global banks are struggling to implement principles for effective risk data aggregation and reporting and suggests supervisors work with them to ensure effective compliance
Bank of England consults on operational resilience
UK supervisors publish joint paper on operational resilience and are seeking industry feedback on their ideas
Clear cultural mission essential so firms can deal with grey areas
SEC chairman Jay Clayton says financial firms must have clear goals regarding their corporate culture if they are to successfully address potential grey areas and improve it
