BCBS 239: The issue of frequency and accuracy of risk reporting
BCBS 239 : The issue of frequency and accuracy of risk reporting. The ECB published a guide in July 2023 to re-specify its expectations under BCBS 239. It plans to strengthen the supervisory system in terms of data quality. The overall objective of BCBS 239 is to strengthen banks' risk data aggregation capabilities and internal risk reporting practices, thereby improving risk management and decision-making processes in banks. “The right information must be available to the right people at the right time.” The implementation of BCBS 239 is not a priori simple. For what ? Despite this increased prudential supervision, the ECB has still not noted sufficient progress in 2023: “the data quality and risk reporting system does not yet receive the appropriate level of attention from banks”. We have had a lot of discussions with our banking customers. What seems to be lacking is the automaticity and completeness of analyzes in ext...