Reporting and GovernanceRSS

Banks struggling with data integration due to fast pace of regulatory change

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.

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.

Gavel

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

Red tape

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.

Peter Wright

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

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