The financial crisis that started in 2007 revealed that many banks, including global systemically important banks (G-SIBs), were unable to aggregate risk exposures fully and quickly. This meant that banks' ability to take risk decisions in a timely fashion was seriously impaired with wide-ranging consequences for individual banks and the stability of the financial system as a whole. The Basel Committee's proposed Principles for effective risk data aggregation and risk reporting - consultative document are intended to strengthen banks' risk management capabilities. This should ensure banks are better prepared to cope with stress, hence reducing the potential recourse to tax-payers.
The Basel Committee welcomes comments on this consultative document. Comments should be submitted by Friday 28 September 2012 by email to: baselcommittee@bis.org. Alternatively, comments may be sent by post to the Secretariat of the Basel Committee on Banking Supervision, Bank for International Settlements, CH-4002 Basel, Switzerland. All comments may be published on the Bank for International Settlements' website unless a comment contributor specifically requests confidential treatment.
Comments received
The Committee wishes to thank those who have taken the time and effort to express their views on the above consultation. The comments received are available in PDF format below.