Financial Risk Manager Part 1
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A newly hired risk manager at a local bank is implementing the Basel Committee principles for risk data aggregation and risk reporting. The manager is assessing the role of regulators and supervisors according to the Basel Committee principles. Which of the following statements is correct for the manager to make?
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.