Regulatory Alerts2014-07-14
Basel Standards Review of Pillar 3 Disclosure Requirements
The Saudi Arabian Monetary Agency directs all licensed banks to adopt the Basel Committee on Banking Supervision’s revised Pillar 3 disclosure standards. The initial phase mandates enhanced public reporting for credit, market, counterparty credit, equity, and securitisation risks, while deferring interest rate in the banking book and operational risk assessments to a subsequent review. Institutions must submit written feedback by 1 September 2014 and achieve full compliance with the updated framework during their first reporting period on or after 1 April 2016.
Share