Public Disclosure of Market and Credit Risks by Financial Intermediaries
Preface
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1. At their meeting in Basle on 12th September, the Governors of the G-10 central banks agreed to the release of this Discussion Paper on the Public Disclosure of Market and Credit Risk by Financial Intermediaries, as recommended by the Euro-currency Standing Committee of the G-10 central banks. The paper has been prepared as a contribution to the Standing Committee's ongoing assessment of financial market functioning by a working group chaired by Peter R. Fisher of the Federal Reserve Bank of New York. 2. The discussion paper, while reflecting preliminary thinking in G-10 central banks, is being released with the intention of stimulating further debate in a wider forum, including market participants and accounting authorities, about the role that enhanced public disclosure by financial intermediaries could play in addressing concerns about the risks incurred by financial intermediaries in the active trading of financial assets and derivative instruments. The Standing Committee hopes that relevant national authorities will find the discussion paper helpful in their efforts to encourage the evolution of disclosure practices that will improve the functioning of financial markets. 3. The preparation of this paper has benefited from discussion with the Basle Committee on Banking Supervision, which may in due course consider specific supervisory issues in relation to disclosures by banks. 4. The G-10 central banks will be taking further steps to encourage comments and reactions to this discussion paper from interested parties.
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Public Disclosure of Market and Credit Risks by Financial Intermediaries
