BCBS 239 : European and National Regulators are increasing pressure on Risk Data quality

Introduction

BCBS 239 presents a set of principles aimed at strengthening banks’ governance frameworks, enterprise-wide risk data aggregation capabilities and internal risk reporting practices.

In turn, effective implementation of BCBS 239 is expected to enhance risk management and decision-making processes at banks.

The principles provide descriptive guidance on the infrastructure and capacities that banks should have in place to improve the management of data and risk reporting. Banks are expected to be compliant with all principles, which are summarised in the table below, simultaneously and at all times.

Which banks are in scope in Romania?

Other than the Globally systemic institutions, all Other Systemically Important Institutions (O-SIIs) need to comply with BCBS 239 with a deadline of 3 years after they have been designated as an O-SII

According to EBA’s list of Other Systemically Important Institutions in the EU published in April 2016 (click here) , O-SIIs in Romania and therefore subject to BCBS239 compliance are :

• Banca Comercială Română S.A
• BRD - Groupe Société Générale S.A.
• UniCredit Bank S.A.
• Raiffeisen Bank S.A.
• Banca Transilvania S.A.
• Alpha Bank Romania S.A.
• Garanti Bank S.A.
• CEC Bank S.A.
• Bancpost S.A.