Despite delays and protests, compliance with myriad Dodd-Frank and Basel III rules will likely accelerate in the coming year particularly those around mandated stress tests requiring banks to demonstrate protection from adverse economic pressures.
The ramifications for bank IT are huge, since stress testing will mean updates to the data that tracks and measures capital reserves, loan performance and the governance of mortgage origination and servicing. "With Dodd-Frank in place, many institutions are going through a significant transformation of the risk and compliance infrastructure, and that's where the solid infrastructure foundation can play an important role," says Eric Ebel, senior director of Moody's Analytics.
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