NEW YORK -- The International Swaps and Derivatives Association has formed a new committee to develop disclosure guidelines for financial instruments used in concert with derivatives.

Directors Hannah Sorscher in the U.S. and Brian Crowe in Europe will head the disclosure committee.

Ms. Sorscher is vice president for global derivatives at Citibank and Mr. Crowe is senior vice president of Chase Manhattan Bank.

According to ISDA chairman Gay H. Evans, the organization feels banks can improve their disclosure of derivatives and financial instruments to better reflect risks.

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