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Home Advanced Approaches European Banking Authority Publishes Assessment of Basel Pillar 3 Disclosures by Large EU Banks

European Banking Authority Publishes Assessment of Basel Pillar 3 Disclosures by Large EU Banks

Today, the European Banking Authority (EBA) published its assessment of the 2012 Basel Pillar 3 disclosures made by 19 EU banks.  The EBA concluded that overall, despite improvements in some specific areas, the banks’ compliance with disclosure requirements remains unchanged compared to last year’s assessment.  The report identifies examples of best practices that EU banks are encouraged to follow to improve the quality, consistency and comparability of their disclosures and their compliance with the regulatory requirements.

U.S. Pillar 3 Requirements:  Beginning in 2015, top-tier U.S. banking organizations with $50 billion or more in total consolidated assets will be required to make Pillar 3 disclosures pursuant to the U.S. Basel III standardized approach.  Upon exiting their parallel run, top-tier U.S. advanced approaches banking organizations will be required to make Pillar 3 disclosures pursuant to the U.S. Basel III advanced approaches.  Top-tier U.S. banking organizations that are subject to the U.S. market risk capital rules began making Pillar 3 disclosures relating to market risk in 2013.

Materials: 

EBA, Follow-up review of banks’ transparency in their 2012 Pillar 3 reports (Dec. 9, 2013) available here: http://www.eba.europa.eu/documents/10180/16145/Follow-up+report+on+Pillar+3+disclosures.pdf

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