December 11, 2018

BCBS published the updated framework for Pillar 3 disclosure requirements. These requirements, along with the updates published in January 2015 and March 2017, complete the Pillar 3 framework. The implementation deadline for the disclosure requirements related to Basel III is January 01, 2022, which accords with the implementation of the Pillar 1 (minimum capital requirements) framework.

The revised Pillar 3 framework reflects the changes and additions to the Pillar 3 framework arising from the finalization of the Basel III post-crisis regulatory reforms in December 2017. The disclosures framework covers 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 standardized approaches
  • An overview of risk management, RWAs, and key prudential metrics

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. In particular, the CVA disclosure requirements have been substantially streamlined. 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 the end of 2020. 

 

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Effective Date: January 01, 2022

Keywords: International, Banking, Basel III, Pillar 3, Disclosures, BCBS

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