On this matter, I fully support the strong plea from the ECB and the EBA to faithfully implement Basel III.2 Second, for banks to be able to determine their course of action and assess and mitigate risks, they need a thorough understanding of their exposures and of how the current challenges might impact their portfolios and financial positions.
This starts with good data of high quality and extensive insight into their customers' financial positions – not only at the start of a contract, but also throughout. That is why we put pressure on banks to improve their data quality, and to properly aggregate and report on their data.