At the end of December, the Basel Committee on Banking Supervision issued for consultation Pillar III Disclosure Requirements for Remuneration. The Committee believes that these disclosure requirements will support effective market discipline. The requirements will allow market participants to assess the quality of a bank's compensation practices and the incentive for risk-taking they support. The requirements should also contribute to promote greater convergence and consistency of disclosure on remuneration. These proposed Pillar III disclosure requirements add greater resistivity to the disclosure guidance on this topic that was included in the supplemental Pillar II Guidance issued by the Committee in July 2009. The proposals cover the main components of sound remuneration practices and take full account of the FSB's principles for sound compensation practices and their related implementation standards.