I recommend that this implementation exercise, that starts immediately, would respect as much as possible the following principles, which, by the way, are the underlying principles that have inspired the G7 recommendations of the Financial Stability Forum. BIS Review 44/2008  7  Firstly, augment transparency.
The present turbulences have, once more, demonstrated that opacity as regards markets, financial instruments and real situations of financial institutions is a recipe for catastrophe. As soon as financial markets are entering an episode of uncertainty and turbulence, absence of transparency triggers contagion and negative herd behaviour. This spread of contagion due to opacity was at the heart of the Asian crisis.