Basel Group Gives Banks 3 Years For Unified Risk Reports

Law360, New York (January 9, 2013, 2:42 PM EST) -- Global bank regulators on Wednesday gave the world's largest banks three years to develop tools to create a unified picture of all of the risks they incur, addressing what they said was a major problem revealed by the financial crisis.

The Basel Committee on Bank Supervision, a 27-member body that includes regulators from the U.S., China and other jurisdictions, said that its principles for effective risk data aggregation and risk reporting would allow banks and their supervisors to know what potential dangers lurked on balance sheets....
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