Take, for example, the supervision criteria implemented by the Large Institution Supervision Coordinating Committee (the LISCC manual). Currently, these materials are not public. Making these materials public would not only improve transparency, doing so would also provide some assurance to the banks subject to them that they are being held to the same supervisory expectations as their peers over time.
Without this clarity, it is far more challenging to build trust in this aspect of the supervisory process. Improving transparency around supervisory standards promotes safety and soundness, both encouraging compliance, and limiting the role of formal and informal enforcement actions and penalties in addressing serious issues.