World Bank (1999), “Financial and Corporate Sector Restructuring Progress and Constraints”, World Bank Background Paper No. 1, Asian Growth and Recovery Initiative. 9  BIS Review 86/1999
The second pillar gives the bank responsibility to exercise the best ways to manage the risk specific to that bank. Concurrently, it also casts responsibility on the supervisors to review and validate banks’ risk measurement models. The third pillar on market discipline is used to leverage the influence that other market players can bring.