Pillar 3 disclosures: looking back and looking forward

By Patrick Calver and Jennifer Owladi

• Public disclosure by banks and insurers of information about their financial position, risk profile and corporate governance practices is an important component of a well-functioning financial system.
• Inadequate disclosures contributed to the financial crisis. As a consequence, improving banks’ and insurers’ disclosures has been a major focus of post-crisis regulation.
• This article takes stock of the enhancements made to Pillar 3 disclosures since the financial crisis, and considers what progress could be made in the future.

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