IBFed responds to Basel consultative document on Pillar 3 requirements for remuneration - 25/

25 Feb 2011

IBFed has responded to a consultative document from the Basel Committee which recommends new “Pillar 3 disclosure requirements for remuneration”.  In the letter, IBFed has highlighted support for the use of disclosure to enhance market discipline by empowering market participants to assess the quality of banks’ remuneration practices.  The response urges the Basel Committee to clarify the precise objective and scope of the proposed disclosure requirements and to limit the requirement to provide prior year comparators.  The likely implementation date for the proposals remains to be set; banks will need adequate notice before the requirements are introduced.

The IBFed comment is available here.

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