October 30th 2012 - The Financial Stability Board (FSB) welcomes the publication of the Report of the Enhanced Disclosure Task Force (EDTF) and views it as a valuable step to improve the quality of risk disclosures. The EDTF’s principles and recommendations for improved bank risk disclosures and leading disclosure practices are designed to provide timely information useful to investors and other users, which together with current regulatory developments and standard setter recommendations can contribute, over time, to improved market confidence in financial institutions.

The FSB encourages banks to continue to strive to improve risk disclosures.

The EDTF was formed in May at the initiative of the FSB. The task force represents a unique private sector initiative – one that brings together on a global basis, senior officials and experts from financial institutions, investors, and audit firms – to develop recommendations for enhancing risk disclosure practices by major banks starting with end-year 2012 annual risk disclosures and continuing into 2013 and beyond.

The EDTF report, Enhancing the Risk Disclosures of Banks, can be found here.

Re-disseminated by The Asian Banker