BCBS 239, a lot of delay, the fault of the "data lineage"
The 2008 crisis The so-called “Subprime” financial crisis began in 2008. It gave way to that of “Sovereign Debts”. This crisis has hurt developed economies around the world. Some took more than 10 years to recover. Beyond the root causes of this episode, this crisis has highlighted significant difficulties for banks to manage risks by relying on relevant and reliable reporting. The information systems and data architectures were then not very homogeneous, and above all poorly controlled, which made it difficult to consolidate the risks by relevant areas of analysis, within the appropriate timeframes. From there was born "BCBS 239" - Basel Committee for Banking Supervision The birth of BCBS239 BCBS 239 is Standard No. 239 of the Basel Committee on Banking Supervision, in short the IT version of a set of prudential standards aimed at warding off the specter of a new crisis like that of 2008! BCBS 239 sets out “principles for effective risk data aggregation, and risk reporting...