On the 12 October, the European Banking Authority published a follow-up review aimed at assessing the disclosures that European banks made in response to the Pillar 3 requirements set out in this Capital Requirements Directive (CRD).

Overall, the EBA welcomes efforts made by banks to improve their closure practices and to comply with the new requirement introduced with CRD III. However, the Report notes that there is still scope for improvement in banks’ Pillar 3 Disclosures. Weaknesses remain in the area of bank disclosures of credit risk and market risk.