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Topic : Credit Risk
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Remember Basel II

Created by : Paul Andrews, Marketing Development Consultant, Reloop40innovation  | 11 16 2009 22:53:25 +0000
Industry : BankingFunctional Area : Application Software(Technology)
Keywords : risk management business intelligence basel 2
Activity:  106 views;  last activity : 07 06 2010 20:18:09 +0000

Basel II mandates that financial institutions aggregate and store a minimum of two years of historical data, and requires that you have a reporting system in place that can communicate information on credit risk, operational risk and market risk to supervisors, investors and others. Preparation for Basel II also required financial insititutions to invest in information technology systems that can support the necessary data storage and reporting requirements.

Survey any financial institution and it will tell you that it has invested in new IT systems to comply with the Basel II mandates. If this is to be taken as fact, then why did the financial community almost melt down due to its risk activities? Either they are not did not install the systems, or they did not use the systems, or they did not know how to use the systems or the systems could not deliver on its promises. Which is it?

Maybe the question should be: “Is Basel II another technology scam like Y2K compliance?”

  
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Survey any financial institution and it will tell you that it has invested in new IT systems to comply with the Basel II mandates. If this is to be taken as fact, then why did the financial community almost melt down due to its risk activities? Either they are not did not install the systems, or they did not use the systems, or they did not know how to use the systems or the systems could not deliver on its promises. Which is it?

Maybe the question should be: “Is Basel II another technology scam like Y2K compliance?”
By Paul Andrews, Marketing Development Consultant, Reloop40innovation  | 11 16 2009 22:53:25 +0000
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