On August 6, 2014, the Basel Committee on Banking Supervision (the “Basel Committee”) announced that the consultation period on proposed revisions to the Basel III Pillar 3 disclosure requirements had been extended from September 26, 2014 to October 10, 2014. Pillar 3 aims to promote market discipline and a secure banking system, via regulatory disclosure requirements,  and the new proposals are the result of concerns emerging about the lack of consistency on the form and granularity of information disclosed and on the interpretation of the requirements. The new proposals promote greater consistency for risk disclosure by banks and aim to assist market participants to assess more effectively a bank’s overall capital adequacy.

The consultation paper is available at: http://www.bis.org/publ/bcbs286.pdf.