Banks 'making progress' on disclosure

Banks 'making progress' on disclosure

Original news:

Significant progress has been made in implementing the recommendations of the Financial Stability Board's (FSB) Enhanced Disclosure Task Force (EDTF), a new report concludes. Overall, participating banks have disclosed 73% of the information recommended by the EDTF in 2013, but the EDTF says more work can be done. The report includes a survey of globally systemically-important banks and certain domestic systemically-important banks. It also contains a review by a user group of the investor members of selected EDTF disclosures. The results highlight a gap between the users' assessment and the banks' own self-assessment.

Background

The EDTF was created by the FSB in 2012 to develop principles for enhanced disclosure, based on current market conditions and risks, including means to improve comparability of disclosures. It was also tasked with identifying leading practice risk disclosures presented in annual reports.

Report

This is the second progress

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About the author:
Eleanor qualified in 1998 into the insolvency team at ASB law. She became a partner in 2005, and went on to head up the Recovery & Insolvency team. Whilst traditionally specialising mainly in contentious corporate insolvency matters, in recent years she has moved into the non contentious arena, in particular specialising in company administrations.