Banking / Finance

Big banks fall short in gathering risk data

16th Jan `14, 12:50 PM in Banking / Finance

Some of the world’s biggest banks are falling short in collecting data on the risks they face doing…

BDMS
Guest Contributor
 

Some of the world’s biggest banks are falling short in collecting data on the risks they face doing business with one another and with other large institutions, according to a report released on Wednesday.

The lack of information about counterparty risks among big financial institutions during the global credit crunch more than five years ago was a factor that exacerbated the crisis, according to the annual report from the Senior Supervisors Group (SSG), which is made up of bank supervisory bodies from United States, France, Germany, United Kingdom, Canada, Italy, Spain and Switzerland.

To address this problem, SSG created a data reporting project during the crisis to inform them what levels and changes in the banks’ derivatives holdings and other counterparty exposures.

Read More
MORE FROM BIG DATA MADE SIMPLE