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While banks have made progress in enterprisewide risk management, they remain hampered by a lack of data, according to a study by Standard & Poor's.
Roy Taub, executive managing director of S&P's risk solutions group, said better collection and management of internal data "is clearly necessary."
The S&P risk management benchmarking study, which was developed by a consortium of 50 large and small banks, looked at risk governance and strategy, market risk, credit risk, operational risk and capital management.
Key findings were:
* Few banks have more than five years of reliable internal data ...