BCBS 239: Compliance

The introduction of the BCBS 239 standard brings with it new requirements that players in the banking world must comply with. Find out how Tale of Data's features can help our customers meet their compliance needs.

Credit risk (RWA), BCBS-239, KYC, Basel III

BCBS 239 requirements

Our customer, one of Europe's leading private bankers, was required to comply with the BCBS 239 STANDARD.

BCBS 239 is a set of regulatory standards established by the Basel Committee on Banking Supervision (BCBS) on January 9, 2013. Its main objective is to ensure that banks have robust risk data aggregation capabilities and reliable risk reporting practices. By adhering to these standards, financial institutions can improve their ability to effectively identify, measure, monitor and report on their risks.

In simple terms, the aim of this standard is to enable banks to improve their ability to produce reliable regulatory reporting.

Tale of Data makes BCBS 239 compliance effortless

Automated Quality Audit report detects anomalies at cell, field or record level: missing or ill-formed data, insufficient number of decimal places, outliers, duplicates.

Consistency check: natural language business rules engine to detect business inconsistencies (e.g. for a given record, field A and field B cannot be empty at the same time).

Chain and automate processing (Flow).

BCBS 239 compliance: Tale of Data 's contribution

By choosing Tale of Data, our customers benefit from a number of advantages, including :

Reduced production time for regulatory reports.
Automated data aggregation : alerts are automatically raised if consistency rules are violated.
Production of accurate and reliable risk data .
Reduced risk of non-compliance.

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Find out more about BCBS 239...

What is BCBS 239?

BCBS 239, also known as "Principles for Effective Aggregate Data Risk Management and Risk Reporting" is a set of standards published by the Basel Committee on Banking Supervision (BCBS) in 2013. These principles aim to strengthen banks' risk management capabilities, focusing on data quality and risk reporting.

Why was BCBS 239 introduced?

BCBS 239 was introduced in response to the 2008 financial crisis. During this crisis, it became apparent that many banks lacked accurate, comprehensive and timely data on their risk exposures, which contributed to the scale of the crisis.

Who is affected by BCBS 239?

BCBS 239 is primarily aimed at global systemically important banks (G-SIBs). However, the Basel Committee also encourages other banks, particularly those that are systemically important at national level (D-SIBs), to apply these principles, taking into account their size, nature and complexity.

When must banks comply with BCBS 239?

Global Systemically Important Banks (G-SIBs) were required to comply with BCBS 239 by January 1, 2016. However, the Basel Committee recognized that implementation of these principles would be a gradual process, and encouraged banks to continue improving their data management and risk reporting capabilities.

How can banks demonstrate their compliance with BCBS 239?

Banks can demonstrate their compliance with BCBS 239 through internal and external audits, robustness and efficiency testing of processes, documentation of data management and risk reporting processes, and presentation of concrete examples of data aggregation and risk reporting.