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FRM Part I · FRM Exam Part I · Principles for Effective Data Aggregation and Risk Reporting

Under the BCBS 239 principles, which statement best describes the expected timing of compliance for banks designated as global systemically important banks (G-SIBs)?

G-SIBs were expected to comply with the BCBS 239 principles by January 2016. The principles were designed to apply to them by default, and supervisors were encouraged to extend them to domestic systemically important banks later, so compliance was neither voluntary nor limited to stress periods.

  1. AG-SIBs were expected to comply with the principles by January 2016, and the principles apply to them by defaultCorrect
  2. BG-SIBs are exempt until their national supervisor issues a separate rule
  3. CG-SIBs must comply only during periods of financial stress
  4. DG-SIBs were given no deadline and compliance is voluntary

Explanation

BCBS 239 set a January 2016 compliance expectation for G-SIBs, and national supervisors were encouraged to apply the principles to domestic systemically important banks three years after their designation. The other options misstate the scope or the timing of the expectation.

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