Bank Of China Exec: "Vendors Should Address Data Gaps For Basel II"
The opportunities Basel II and the legal entity identifier (LEI) initiative present for vendors in the reference data space were highlighted by a Bank of China executive during a keynote address at this week's Asia Pacific Financial Information Conference in Hong Kong.
Edwin Yuen, chief analytics officer at Bank of China, highlighted the limitations of the benchmarking reference data currently available for validating the risk estimates banks produce as part of Basel II.
Yuen explained that
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