On 28 November 2023, the Basel Committee on Banking Supervision (Basel Committee) published a report on the progress that 31 global systemically important banks have made in implementing the Basel Committee’s Principles for effective risk data aggregation and reporting (the Principles). Of the 31 banks assessed, only two banks are fully compliant with all the Principles.
The report is in two parts. The first part of the report looks at banks’ progress in adopting the Principles by comparing the 2022 assessment with previous assessments, highlighting notable improvements, remaining key challenges, activities, and recommendations to banks for implementing the Principles. The second part of the report focuses on supervisory approaches and provides an overview of supervisory activities and measures to oversee and promote the adoption of the Principles, complemented by recommendations to supervisors for furthering these efforts. Appendix 1 of the report contains a set of case studies illustrating certain banks’ practices and challenges in implementing the Principles. The report exclusively comprises anonymised data and refrains from employing or alluding to any confidential bank information.
The Basel Committee will continue to monitor G-SIBs’ progress in adopting the Principles.