The CGFS is also looking into the possibility of preparing a set of good practices for the establishment of well functioning markets; this would be a follow-up to a “Report by a Study Group on market liquidity” which is currently being revised prior to publication. 9  BIS Review 36/1999  policies (deemed Financial Policies) having implications for financial stability.
If information about how the supervisors are behaving is a necessary condition for ensuring that the banks are behaving properly, this Code of Transparency seems a useful initiative. The Code of Transparency is still in the process of being finalised, but in its current form it is based upon a sensible if (to some) radical framework.