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Article 5: Information Systems and Internal Reporting

C 154/2018 STA
  1. 1.A bank’s systems must support supervisory reporting requirements for country and transfer risks as provided in this Regulation and Standards as well as provision of country and transfer risks reports to all relevant parties within the bank on a timely basis and in a format commensurate with their needs.
  2. 2.The processes for aggregating the necessary data and producing supervisory and internal country and transfer risks management reports must be fully documented and must establish standards, cut-off times and schedules for report production. The aggregation and reporting process must be subject to high standards of validation through periodic review by members of the internal audit function with specific systems, data and reporting expertise, particularly where the process requires substantial manual intervention.