IIF Authors

Status: Will be live at 06/08/2015 00:00

IIF's comments on FSB revised Phase 3 Template for GSIBs

Monday, June 8, 2015

Following up on the May 15th FSB workshop on the Phase 3 of the Common Data Templates for Global Systemically Important Banks (GSIBs) in Basel, the IIF sent comments on the proposed revisions to the Phase 3 templates. The written comments are intended to be part of an ongoing dialogue with the FSB.

The FSB has proposed a number of changes to the Phase 3 templates that are viewed positively by the industry. The suggestions made in the comment-letter are intended to facilitate finalization of the templates in a way that achieves the shared goals for these templates, within reasonable bounds of developmental and operational burden for the banks. The industry agrees with the statement made that getting the template right and achieving the purposes of the data hub are a "shared responsibility."