In October 2012, the Enhanced Disclosure Task Force (EDTF) (a private sector group established by the Financial Stability Board (the FSB)) published a report that included 32 recommendations for improving bank risk disclosures in the areas of report usability, risk governance and risk management, capital adequacy, liquidity and funding, market risk, credit risk and other risks.
In 2013 and 2014 the FSB asked the EDTF to produce a report, providing an update on how the recommendations are influencing risk reporting and whether they have proved helpful in meeting users’ needs. In 2014 the EDTF again carried out a survey to identify which of the report’s recommendations were implemented in 2013 annual reports.
The survey results confirm that significant progress has been made towards implementing the EDTF recommendations in 2013 disclosures. The banks’ self-assessment is that they have disclosed 73% of the information set out in the EDTF recommendations, a substantial increase from 2012, with particular improvement in quantitative disclosures, where the implementation rate increased from 40% to 70% on an aggregate basis.
View FSB welcomes second implementation progress report by the Enhanced Disclosure Task Force, 30 September 2014