By Bora Yagiz, Compliance Complete
NEW YORK, FEB. 11 (Thomson Reuters Accelus) – An international study for a bank regulators’ group has found deficiencies in the way banks measured and reported counterparty exposures. But the regulators themselves may share responsibility for the shortcomings, as they have provided little specific guidance for the banks.
The report by the Senior Supervisors Group (SSG) –a forum of senior officials from banking regulatory agencies of several countries– found that 19 participating large banks fall short in some areas of data aggregation and quality. The report was based on the banks’ own self-assessments. (more…)