DISCLOSURE OF INFORMATION AND THE EXEMPTION FROM DISCLOSURE FOR CREDIT INSTITUTIONS

Abstract

Public presentation of information is supported by the existence of accounting standards and by an appropriate qualitative methodology presentation and requires publication of relevant qualitative and quantitative information from the annual financial statements, which are often supplemented by half-yearly or quarterly financial statements and other important information. Certainly, the adoption of internationally accepted accounting standards was a necessary measure to facilitate transparency and correct interpretation of financial statements. Also in order to ensure greater transparency in the banking system, efforts have been made also by the Basel Committee, which is regulated under Basel II, third pillar "Banking discipline." Pillar III requires banks an increased transparency, being created to allow the banking system to have better representation of the general situation of the bank, in terms of total exposed risk [1]. For this reason, credit institutions are required to provide both supervisors and the public detailed information on qualitative and quantitative involved risks, capital and risk management policies and procedures. In this article we intend to investigate what information that banks publish.