Pillar 3 Disclosure Statement
The Basel II Accord has been implemented by the European Union through the Capital Requirements Directive (“CRD”). The CRD details the standard regulatory capital framework for the financial services industry within the EU and consists of three pillars:
- Pillar 1 specifies the minimum capital requirements of firms to cover credit, market and operational risk;
- Pillar 2 requires firms to assess the need to hold additional capital to cover risks not covered under Pillar 1; and
- Pillar 3 requires a set of disclosures to be made which enable market participants to assess information on a firm’s capital, risk exposures and risk management procedures.
Please use the link below to access BCM's Pillar 3 statement which complies with the disclosure obligations set out in Chapter 11 of the FCA's Prudential Sourcebook for banks, building societies and investment firms.Pillar 3 Disclosure Statement 2020