Since it was issued in January, 2013, BCBS 239 (The Basel Committee on Banking Supervision, Principles for effective risk data aggregation and risk reporting) has had profound effects in the banking industry. The BCBS has called out banks and supervisors alike for doing too little to achieve and validate compliance. In the most recent progress update, published by the BCBS in March 2017, they noted that only one institution was deemed fully compliant within the three-year deadline.
In this report we provide PwC’s overall perspectives on how institutions are approaching BCBS 239 to address the top challenges (based on the March 2017 progress paper), where supervisors stand in various jurisdictions, and key considerations for moving forward.
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