America's banking institutions, like the rest of corporate America, are subjected to excessive disclosure requirements - and recent developments in areas such as derivatives threaten to add to that information overload.

Full and fair financial statement disclosures are a major reason why the United States' capital markets are the best in the world - and why they have the most credibility and integrity. However, our present financial disclosure system doesn't attempt to distinguish between truly decision- critical information and what might be described as non-essential, compliance, and routine data.

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