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Pillar 3 disclosure requirements – updated framework

Summary of document history   Previous version Previousconsultation This version Subsequentconsultation Subsequentversion Pillar 3 disclosure requirements - consolidated and enhanced framework 29 Mar 2017 Type:  Standards Status:  Current Revised Pillar 3 disclosure requirements 28 Jan 2015 Type:  Standards Status:  Current

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Summary of document history  

This version

BCBS  | 
11 December 2018
Status:  Forthcoming
PDF full text
 |  62 pages
Topics: Disclosure

The Basel Committee on Banking Supervision has published today updated Pillar 3 disclosure requirements. These requirements, together with the updates published in January 2015 and March 2017, complete the Pillar 3 framework.

Pillar 3 of the Basel framework seeks to promote market discipline through regulatory disclosure requirements. The revised Pillar 3 framework reflects the Committee's December 2017 Basel III post-crisis regulatory reforms and pertains to the following areas:

  • credit risk, operational risk, the leverage ratio and credit valuation adjustment (CVA) risk;
  • risk-weighted assets (RWAs) as calculated by the bank's internal models and according to the standardised approaches; and
  • an overview of risk management, RWAs and key prudential metrics.

In addition, the updated framework sets out new disclosure requirements on asset encumbrance and, when required by national supervisors at the jurisdictional level, on capital distribution constraints.

The standard incorporates feedback collected during the February 2018 public consultation from Pillar 3 preparers and users. In particular, the CVA disclosure requirements have been substantially streamlined.

The implementation deadline for the disclosure requirements related to Basel III is 1 January 2022, which accords with the implementation of the Pillar 1 (minimum capital requirements) framework. The implementation deadline for the disclosure requirements for asset encumbrance, capital distribution constraints and the prudential treatment of problem assets has been extended by one year to end-2020, taking account of feedback received from the consultation.

The Committee thanks all those who contributed time and effort to express their views during the consultation process. 

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International Settlement
The Bank for International Settlements (BIS) is an international company limited by shares owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through subcommittees, the secretariats it hosts and through an annual general meeting of all member banks. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.

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