Principle 11: A bank’s public disclosures should allow stakeholders to assess its approach to operational risk management.

60. A bank’s public disclosure of relevant operational risk management information can lead to transparency and the development of better industry practice through market discipline. The amount and type of disclosure should be commensurate with the size, risk profile and complexity of a bank’s operations, and evolving industry practice.

61. A bank should disclose its operational risk management framework in a manner that will allow stakeholders to determine whether the bank identifies, assesses, monitors and controls/mitigates operational risk effectively.

62. A bank’s disclosures should be consistent with how senior management and the board of directors assess and manage the operational risk of the bank [Basel Committee on Banking Supervision, International Convergence of Capital Measurement and Capital Standards: A Revised Framework Comprehensive Version, Section V (Operational Risk), paragraph 646, Basel, June 2006, paragraph 810.].