BBA advises on financial reporting in volatile markets

14 July 2008

Banks’ financial reporting responsibilities in the current unstable markets are clarified in a new publication issued today by the British Bankers’ Association.

Turmoil and Transparency brings together the guidance from the world’s financial reporting organisations into a single document for banks currently preparing their half-year reports.

The paper provides BBA commentary on the recent papers issued by the G7’s finance ministers and central bank governors, the Financial Stability Forum, the Committee of Central European Bank Supervisors and the Committee of European Securities Regulators on 10th July. It also includes a statement made today by the European Financial Reporting Advisory Group and three national standards setters.

Paul Chisnall, Executive Director, Financial Policy and Operations at the BBA said:

“The credit crunch focused the international standard setters on the way complex financial structures should be reporting their results. This paper brings together their views, together with the BBA’s views on what our members might do with all of this new information.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development