Basel III Data Aggregation – Asking the Impossible?
16 Aug 2012
During the peak of the financial crisis many banks struggled to pull together information for the regulators. There were numerous examples of banks providing inaccurate information to regulators. Uncertainty on the true financial position of banks made it that much harder to put together a rescue. Perhaps the most egregious example is Hypo Real Estate. In 2011 having been rescued by the German government the company announced a Euro55bn accounting error that was attributed to a spreadsheet mistake. This is not unique and there have been many similar, but less public examples.