Chartis: Spotlight on BCBS 239 - It Was Never Going To Happen On Time

Progress towards full BCBS 239 compliance has been slow. The principles-based approach of BCBS 239, coupled with the current lack of compliance benchmarks means that banks are unsure of what exactly “good looks like” in their particular case, and this will differ for each bank. Further problems have been encountered regarding data governance and implementing risk data aggregation systems. The result of this is that no banks were fully compliant on the 1 January 2016 deadline, and since then

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