The Financial Stability Board (FSB) has published a paper relating to the launch of phase 2 of its data gaps initiative to implement a common data template to collect key granular data from global systemically important banks (G-SIBs) about their assets and liabilities.
The objective is to provide national regulatory authorities with a strong framework to assess the linkages among the largest banks and the concentration of these institutions in different sectors and markets. The overall goal is to determine whether the planned quantitative impact analysis (QIA) in phase 3 of the initiative will produce analytically useful results when looking at areas such as country, sector, instrument, currency and maturity.
Based on the results of the QIA, the FSB’s data gaps working group will finalise the institution-to-aggregate (I-A) immediate counterparty template in early 2015. During the course of the development of the phase 3 template, additional consultation with industry is anticipated. First reporting of the I-A immediate counterparty template is planned from Q1 2016 on a best effort basis, with mandatory reporting from August 2016, with an end-June reference date.