Supervisors slam banks over 'top 20' counterparty results
After five years of work, a group of 19 big banks still get a failing grade from supervisors on their ability to pull together and report counterparty exposures. Is it all a question of cost? Fiona Maxwell reports
Most large, international banks can report their top counterparty exposures quickly, but they can’t be relied on to get the numbers right – even if they’re given three days to do it. That is the sobering message of a report published by the Senior Supervisors Group (SSG) on January 15, a little over five years after it started trying to knock the practices of 19 major banks into shape. The big question is, why not?
One of the supervisors involved offers his take – it all boils down to dollars and
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