However, such requirements have a broader focus than the third pillar, which aims at banks capital adequacy. Pillar 3, in other words, is a more specific interpretation of the general rules, as a reflection of its more precise objective. Supervisors are therefore keen on the on-going revision of the IASB disclosure standard for banks, IAS 30 and IAS 32.
The Basel Committee maintains an ongoing relationship with the IAS 30 Advisory Group in order to achieve consistency between disclosure frameworks. Supervision I now turn to the last topic, supervision. We must not ignore that public disclosure has its limitations and potential drawbacks in certain circumstances, particularly in the financial sector. Modern banks' business is complex and opaque.