Other important findings of this survey were: •  Regulatory requirements were more of a driver for large institutions’ data cleanup initiatives, while community banks were driven more by risk management and quality initiatives. •  Banks around the world were beginning to assign data management responsibilities to senior-level position.
BIS central bankers’ speeches  3  •  All banks, regardless of size, reported that accurate data is essential for more timely identification of emerging problems and for reducing regulatory and legal risks.