What is it about?
The paper highlights amongst other objectives, the need for greater collaboration and coordination between standard setters and national supervisors in facilitating the goals of consistency, comparability, harmonisation and uniformity - as a means of achieving greater transparency, disclosure in the interpretation of regulations, legislation and standards.
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Why is it important?
Consistency and comparability with measurements - as well as up to date indices are not only important from the perspectives of facilitating greater transparency and enhanced disclosure in the financial reporting framework, but also vital in mitigating information asymmetries which in part contributed to th e build up of systemic risks during the GFC. As well as lack of adequate information on key and pivotal sectors of the economy and transmission channels, lack of effective and timely coordination was also highlighted as a contributory factor and flaw during the Crisis.
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This page is a summary of: Harmonising Basel III and the Dodd Frank Act Through Greater Collaboration between Standard Setters and National Supervisors, SSRN Electronic Journal, Social Science Electronic Publishing,
DOI: 10.2139/ssrn.1991242.
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