Pillar 3 Disclosure

The European Union Capital Requirements Directive (CRD) came into effect on 1 January 2007, establishing a revised regulatory capital framework governing the amount and type of capital that must be maintained by credit institutions and investment firms based on the provisions of the Basel II Capital Accord. The framework consists of three Pillars:

• Pillar 1 determines the minimum capital requirements of firms to cover credit, market and operational risk
• Pillar 2 requires firms to assess whether they should hold additional capital in respect of any risks not covered by Pillar 1
• Pillar 3 requires firms to publicly disclose information relating to their risk , capital adequacy, and policies for managing risk with the aim of promoting market discipline.

You can download our Pillar 3 Disclosure here.