On its website, BaFin has published a circular describing the rules concerning disclosure requirements with regard to encumbered and encumbered assets, dated 30 August 2016. The circular has been agreed with Deutsche Bundesbank. The circular implements an EBA guideline dated 27 June 2014.  Disclosure on asset encumbrance should increase market discipline of institutions and allow the provision of transparent and harmonised information on the topic across EU Member States, so as to enable market participants to compare the institutions in a clear and consistent manner. BaFin has also provided a disclosure template on its website.