Insights
BIRD: The Banks’ Integrated Reporting Dictionary
What is BIRD? Banks often face challenges in interpreting and implementing new or updated regulatory frameworks. They must navigate through complex requirements, extract relevant data from their internal systems, and transform it to meet regulatory standards. This process can be confusing, as different banks may interpret regulations differently and use
A guide to Basel III Endgame: The Strategic Advantage of Early Preparation for Banks
The implementation of Basel III has provided several benefits aimed at financial stability by reducing systemic risk and strengthening the resilience of banks. In the United States, the "endgame" of this regulatory shift presents challenges for banks in interpreting the rules, understanding their impact, and evaluating their IT
Embracing open source standards to revolutionise regulatory reporting
Embracing Open-Source Standards to revolutionise Regulatory Reporting In the dynamic and complex world of financial reporting, the imperatives of transparency, accuracy, and efficiency are paramount. As the financial landscape continues to evolve, data standardisation has become a critical tool in unlocking the transformative potential of regulatory reporting (see our latest
PRA's Dear CEO letter on 2024 Priorities for UK Deposit Takers
11th January 2024 The Prudential Regulation Authority (PRA) issued a thematic letter to CEO’s of UK Deposit Takers, detailing the key priorities for UK deposit-taking firms in the coming year. The primary focus of these priorities revolves around fostering resilient governance, effective risk management, and robust controls within firms
Analysing Modern Bank Failures: Insights, Implications, and Innovations from the SVB Case Study
Introduction In the classic film 'It's a Wonderful Life,' viewers are introduced to the 'Jimmy Stewart situation' where George Bailey's bank teeters on the edge of disaster, highlighting the fragile nature of trust in financial institutions. This scenario is not simply a
Turning tides: Seizing the moment to embrace an open standard for regulatory reporting
Introduction In a world of growing data and ongoing regulatory changes, the financial sector faces a big shift, highlighting the need for a reliable data standard. This white paper explores the opportunities of a standardised framework for regulatory reporting, shedding light on why past endeavours fell short in setting up
A detailed look at the future of data standards for regulatory reporting
Introduction In "The Box: How the Shipping Container Made the World Smaller and the World Economy Bigger," author Marc Levinson explores how a seemingly simple innovation - the shipping container - revolutionized global trade and transformed the world economy. By standardizing the way goods were packed, shipped, and
The Future of Regulatory Reporting Post–SVB
Interview with Fiona Humphries, former Senior Managing Director at Silicon Valley Bank: Strengthening the Relationship between Banks and Regulators for Effective Risk Management Interviewer: Tom Fairey, Suade Labs CRO Interviewee: Fiona Humphries, former Managing Director at Silicon Valley Bank Introduction: In this interview, we explore the evolving dynamics between banks
Implementation of Basel 3.1: How to efficiently manage reforms
Unveiling Basel 3.1: Navigating the reforms in the EU and in the UK The Basel Committee on Banking Supervision (BCBS) responded to the 2008 global financial crisis by introducing Basel III, a series of reforms designed to enhance banks' resilience throughout economic cycles. Indeed, the financial crisis exposed
Learning from SVB's Collapse: Aspiring Beyond Compliance and Strengthening Data-Driven Regulation
The collapse of SVB has raised important lessons for banks and regulators, as highlighted by James Bowpitt, the Risk and Regulatory Reporting UK Lead at Suade Labs. SVB's downfall stemmed from a myopic focus on meeting regulatory requirements without considering broader factors. Banks should strive for goals beyond