The Enhanced Disclosure Task Force (EDTF), an initiative of the Financial Stability Board (FSB), has published a progress report on the level and quality of the implementation of their report “Enhancing the Risk Disclosure of Banks” in major banks’ 2012 annual reports. The EDTF’s principles and recommendations for improved bank risk disclosures aim to provide timely information useful to investors and over time, improve market confidence in financial institutions.

The progress report demonstrates that banks have implemented 50% of the EDTF recommendations in aggregate in 2012 disclosures, a considerable increase from 34% in 2011. The banks expect to implement 72% of the recommendations within their 2013 disclosures.