For the 2014 progress report the EDTF conducted a survey on the level and quality of the implementation of their report Enhancing the Risk Disclosures of Banks in major banks' 2013 annual reports.
The survey results confirm that significant progress has been made towards implementing the EDTF recommendations. The banks' self-assessment is that they have implemented 73% of the EDTF recommendations in aggregate in 2013 disclosures. 2012 this number was at 50%. Particular improvement could be observed in quantitative disclosures, where the implementation rate increased from 40% to 70% on an aggregate basis.
Geographically, banks in the United Kingdom showed the highest implementation rates (98%), while implementation was lowest in the United States and Asia-Pacific (58% and 51%, respectively). Canadian banks reported the most progress and increased their aggregate implementation of all EDTF recommendations by 58% between 2012 and 2013 disclosures to a total of 92%.
Analysed by sections, qualitative disclosures related to the EDTF's recommendations concerning risk governance and other risks show the highest implementation rates (exceeeding 84% over all banks) while the lowest implementation rates were observed in relation to liquidity and funding disclosures.
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