Transcription of Regulatory Reporting Introduction and Overview
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Regulatory Reporting Introduction and Overview
10 April 26, 2012 Regulatory Reporting Best PracticesRegulatory ReportingIntroduction andOverviewKenneth Lamar22 Objectives What are the goals of Regulatory Reporting ? Where are the pitfalls? How to mitigate these?3 Purpose of Regulatory Reports Regulatory reports are collected for many purposes: Monitoring safety and soundness on the individual legalentity level ( , Regulatory capital) Monitoring systemic risk in the banking and financialsystems Monetary Policy (measurement and operations) Cross border flows (individual exposures and position ofcountries) Compliance34 Purpose of Regulatory Reports This results in the Federal Reserve Systemcollecting: Over 80 reports Different cuts Different definitions Different consolidation rules5 Purpose of Regulatory Reports Report design focuses on The need for data balanced by cost Robust review process is in place Dialogue with the financial services industry iskey to good report design46 Pitfalls Static databases Often cause significant classification errors Business lines
New G/L accounts should be in compliance with regulatory reporting instructions-Correctly mapped on regulatory reports-The account opening process should be described in the procedure manual 51 General Ledger Best Practices Regulatory reporting staff should review the G/L daily and any discrepancies should be resolved prior to filing of ...
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