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30 Apr

Risk data aggregation: Getting ‘good data’ requires a new conversation

JWG analysis. Without a consolidated viewpoint on what new risk data requirements mean, firms will be at a loss when it comes to determining best practice. We are in the middle of a massive, global industry transformation with many rulebooks. With divergent regulatory timelines, standards and existing data architectures a common and holistic ‘best practice’ Read More

19 Nov

The cost of implementing the LEI: CDOs under the gun?

  • 19th November 2013
  • RegTechFS

A big theme present at a big industry data conference earlier this month was how firms were approaching the BCBS’s standards on risk data aggregation as well as the implementation of the regulatory data agenda. With the FSB and the BCBS agreeing that “higher expectations” must be met by G-SIFIs for risk data aggregation and Read More

24 Jun

Living wills: don’t lose the will to live

  • 24th June 2013
  • RegTechFS

Changing EU rules suggest firms will face 2015 implementation confusion without co-ordination on RRP standards. Another month, another draft Recovery and Resolution Directive. The text is the centrepiece of EU plans for rules and mechanisms which will make banks resolvable without taxpayer bail-outs. However, five years after the crisis the rules have yet to be Read More

15 May

New intraday liquidity reporting requirements will need further alignment?

In April, the BCBS announced that internationally active banks would be required to submit intraday liquidity reports to their regulators on a monthly basis.  In their short paper, ‘Monitoring tools for intraday liquidity management’, they set out several measures of intraday liquidity, scenarios for stress testing and a reporting template.  However, there are several major Read More

27 Mar

Regulating the -IBORs: A benchmark too far?

Benchmark manipulation and fallout from it is not new news, but the global drive to regulate benchmarks is.  The political sensitivity surrounding regulation in this space means that national regulators are racing at different speeds and approaches to implement reforms to ensure benchmarks are transparently regulated and set. The connection of benchmarks to multiple levels Read More

26 Feb

The LEI: between a ROC and hard decisions

  • 26th February 2013
  • RegTechFS

As the global method of identifying entities and their ownership structures, the Legal Entity Identifier forms a central part of the G20’s crisis-prevention toolbox. After a few chaotic years of LEI debate and design, regulators are finally nearing the long anticipated starting line for use of the world’s first singular identifier. The LEI is of Read More

29 Jan

EU bank IT spending: growing by … 0.4% in 2013?!

Over the past five years, the G20 has rolled out one of the largest technology and operations projects the financial system has ever seen. National regulators have issued multiple, often conflicting, regulations with differing technical standards, leaving firms sweating to upgrade their legacy systems to keep pace with change demands. Today, a report produced by Read More

28 Jan

The Coming Fragmentation of Cross-Border RRP’s

However, the realisation of such an approach has been stifled by differences between national insolvency regimes and resolution tools. As a result, many assumed that, where such a conflict occurred, national regulators would naturally seek to cooperate on the issue, with one regulator giving sole jurisdiction to the other in order to allow for the Read More

11 Oct

Regulating domestic SIFIs

After a broad consultation paper released June, the BCBS has released its framework for addressing domestic systemically important banks or “D-SIBs.” This is on schedule for delivery and discussion at the upcoming G20 meeting, and should seen as related to and coordinated with the pre-existing G-SIFI framework. The framework is quite loose, giving considerable discretion Read More

01 Oct

Risk data aggregation: it’s all in the interpretation

In their latest landscape assessment of Basel III, the EBA came to a conclusion regarding a problem the industry has been grappling with for a long time: rules that aren’t detailed enough lead to uneven outcomes in data reporting, aggregation and assessment. The report finds that, while data quality from national regulators has improved and Read More