The above efforts resulted in credible improvements. In the two year period between September 2007 and September 2009, the accumulation of soiled notes at currency chests and issue offices has been brought down from 190 days of processing capacity to 68 days. The disposal of soiled notes increased from 7.3 billion pieces to 11.9 billion pieces.
I am referring to the BCBS 239 principles for effective risk data aggregation and risk reporting, which play a significant role in adequately managing the risks of a bank. In order to make sound decisions, top management needs sound data. These are the basics. Where do we stand in turning them into actual policy?