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Federal Reserve Bank OF DALLAS ROBERT D. M C T E E R , J R . P R E S ID E N T A N D C H IE F E X E C U T IV E O F F IC E R DeCCmbeT 20 1995 DALLAS, TEXAS 7 5 2 6 5 -5 9 0 6 Notice 95-119 TO: The Chief Executive Officer of each member bank, bank holding company, and foreign agency in the Eleventh Federal Reserve District SUBJECT Joint Report on the Public Disclosure of Trading and Derivatives Activities of Banks and Securities Firms DETAILS A joint report on the public disclosure of trading and derivatives activities of banks and securities firms worldwide has been issued by the Basle Committee on Banking Supervision and the Technical Committee of the International Organisation of Securities Commissions (IOSCO). This joint report provides an overview of the disclosures about trading and derivatives activities in the 1994 annual reports of a sample of the largest, internationally active banks and securities firms in the G-10 countries, and notes improvements since 1993. The analysis builds, in part, upon a framework used by the Federal Reserve in analyzing the trading and derivatives disclosures of major U.S. banking organizations. The analysis revealed that there have been general improvements as well as significant voluntary innovations in the annual report disclosures of a number of large, internationally active banks and securities firms. However, despite encouraging advances in disclosure practices by a number of institutions in the G-10 countries, many institu tions continued to disclose very little about their trading and derivatives activities. In addition, the report makes recommendations for further improvements in disclosures of qualitative and quantitative information about institutions’ involvement in trading and derivatives activities, including their risk exposures and risk management policies, and the earnings impact of these activities. The report’s recommendations draw on concepts developed in the Discussion Paper on Public Disclosure of Market and Credit Risks by Financial Intermediaries released For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastale (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) by the Euro-currency Standing Committee and the G-10 central banks in September 1994, and in the joint report of the Basle Committee and the IOSCO Technical Commit tee, Framework for Supervisory Information About the Derivatives Activities of Banks and Securities Firms. MORE INFORMATION For a copy of the joint Basle Committee/IOSCO supervisory information framework, please contact Brenda Craine at (214) 922-5254. For more information regarding the joint report, please contact Gayle Teague at (214) 922-6151 or Julie Mills at (214) 922-6229. Sincerely yours,
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