Financial Risk Manager Part 1
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A newly appointed risk manager at a regional bank is implementing the Basel Committee's guidelines on the consolidation and communication of risk data. In this context, the Basel Committee's principles emphasize the role of regulatory bodies and supervisors in ensuring effective risk management. Which of the following statements accurately reflects these principles for the manager to convey?
A
Regulators have provided banks with clear and comprehensive actions to take in order to comply with the Basel principles in every aspect.
B
Regulators view banks compliance with the Basel principles as a customized exercise that varies from bank to bank.
C
Supervisors have the ability to recommend that banks take remedial actions to address any deficiencies, but they do not have the authority to mandate these actions.
D
Supervisors should review and evaluate a bank's compliance only on an as-needed basis when deficiencies are identified