Quarterly "pillar 3" disclosures by banks may become more complex and also have to be produced on a more timely basis, if proposals from the Basel Committee on Banking Supervision come into force in Australia.The BCBS said this week that "in the wake of the 2007-2009 financial crisis, it became apparent that the existing pillar 3 framework failed to promote the early identification of a bank's material risks."The committee also said the framework "did not provide sufficient information to enable market participants to assess a bank's overall capital adequacy."The proposals for revisions to existing disclosure requirements are set out in this week's consultative document.They include greater use of templates to achieve consistency and comparability.One theme of the reform would be requiring banks disclose more details on the calculation of risk weighted assets.The proposed disclosure regime introduces a "'hierarchy' of disclosures," with some "prescriptive templates for quantitative information that is considered essential for the analysis of a bank's regulatory capital requirements."Templates with a more flexible format are proposed "for information which is considered meaningful to the market but not central to the analysis of a bank's regulatory capital adequacy," the BCBS said.