Senior supervisors group out with new disclosure report
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WASHINGTON – In response to a request from the Financial Stability Forum, the Senior Supervisors Group, a collection of senior financial supervisors from five countries, has issued a report reviewing the disclosure practices of financial services firms concerning their exposures to certain financial instruments that the market-place now considers to be high-risk.
This report, Leading-Practice Disclosures for Selected Exposures, provides examples of current leading practices in the reporting of information about exposures associated with such instruments as collateralised debt obligations, residential mortgage-backed securities, commercial mortgage-backed securities, other special-purpose entities and leveraged finance loans.
The Senior Supervisors Group consists of the Banque de France, the German regulator Bafin, the UK Financial Services Authority, Swiss regulator EBK, the US Office of the Comptroller of the Currency, the Federal Reserve and the New York Fed.
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