2016 Risk Data Aggregation Deadline Approaching
The January 1, 2016 deadline set by the Basel Committee for Bank Supervision (BCBS) for implementation of its Risk Data Aggregation (RDA) and risk reporting principles is fast approaching and many banks may not be ready. To date, banks have begun making limited progress towards full compliance. Nonetheless, regulatory authorities are growing increasingly impatient and are stepping up their review and scrutiny. As a result, now is the time for risk executives to make sure they have assessed their readiness for the RDA compliance deadline.