There needs to be more discussion with a broader group of institutions to discuss their views regarding Pillar 3. In particular, banks have expressed their concern about the potential for misinterpretation of the purportedly complex disclosures by investors and the market in general.
Another concern relates to potential inconsistencies and differences across banks and the unclear signal this may send to the users of such disclosures. Clearly, broad dialogue on this topic involving supervisors, bankers and market participants is necessary to prevent any unintended consequences.