26 March 2009

CEBS outcome on follow-up review of banks' transparency

Especially for the qualitative disclosures - on business models and risk management – there is still room for improvement, CEBS found and considers stronger policy measures if the forthcoming annual and Pillar 3 reports will not be satisfactory.

CEBS published the outcome of a third assessment of banks’ transparency on exposures affected by the financial crisis. Especially for the qualitative disclosures - on business models and risk management – there is still room for improvement, the Committee found.

 

CEBS strongly encourages banks, not least in the present crisis, to bring their interim, as well as quarterly and preliminary, results into line with the good practices published in June.

 

CEBS expects banks to carefully judge that all kind of exposures are subject of relevant and appropriate disclosures that allow market participants to assess an institution’s situation.

 

CEBS will carefully analyse the 2008 audited annual reports and Pillar 3 reports to assess whether the gaps that have been identified in the previous and present analyses have been addressed in the forthcoming annual and Pillar 3 reports.

 

To the extent that the conclusions in that respect will not be satisfactory, stronger policy measures will be considered.

 

Press release

Report

 

© CEBS - Committee of European Banking Supervisors