Banks to streamline Pillar III financial reporting procedures

The British Bankers' Association says its members should be able to speed up disclosure and supervisory reporting, after European regulators criticised the delayed and obscure reports issued by many banks.

The Committee of European Banking Supervisors assessed the 2008 annual reports of 17 major banks, three of which were US firms. The committee concluded that for many banks Pillar III disclosures were either published months after their annual reports or were hidden by an elaborate web of cross

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