Big banks expect to miss Basel risk data deadline
Over 45% of G-Sibs have told regulators they will not comply with Basel's risk data aggregation principles by 2016 - but a Markit survey paints a bleaker picture
Nearly half of global systemically important banks (G-Sibs) expect to miss a January 2016 deadline for an overhaul of their risk data capabilities, but the real picture may be worse, according to the Basel Committee on Banking Supervision. That view is backed up by a survey conducted by data and analytics firm Markit, in which only 17% of the 29 participating banks said they would hit the deadline.
A further 17% of banks in Markit's survey – results of which were shared with Risk – said they
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