Basle Committee and IOSCO release their survey of the disclosures of trading and derivatives activities by banks and securities houses in their 1995 annual reports

7 November 1996

The Basle Committee on Banking Supervision and the Technical Committee of IOSCO are today making public a survey of the disclosures made in 1995 annual reports by internationally active banks and securities firms concerning their trading and derivatives activities. This survey follows a similar joint survey conducted last year which resulted in the issue of a paper in November 1995 entitled the "Public disclosure of the trading and derivatives activities of banks and securities firms". The purpose of both exercises was to review the disclosure practices of a sample of major internationally active banks and securities firms and to stimulate further improvements in disclosures by all market participants.

The present document provides large banks and securities firms with a picture of the advances in disclosure practices over the 1993-1995 period and encourages further enhancements at the international level. The survey reveals that, as compared with 1994, the participating banks and securities firms continued to enhance their trading and derivatives-related disclosures in their 1995 annual reports, particularly in the area of quantitative information about market risk. However, there remain disparities, both within and across countries, as regards the type and usefulness of the information disclosed. The Basle Committee and the IOSCO Technical Committee will continue to monitor and to encourage banks and securities firms to improve their disclosure practices further over the coming years.

The text of this report can be obtained from the BIS Web Site on the Internet at http://www.bis.org with effect from 7th November.

7th November 1996