HONG KONG'S banking regulators have issued stricter guidelines on disclosure of financial information by banks and related institutions. The second phase of the Monetary Authority's guidelines on financial disclosure by authorised institutions requests: More information on derivatives and other forms of off-balance sheet risk in reporting of profit. But disclosure of market risk has been shelved awaiting new rulings from Basle, from where central bankers are regulated. Breakdown of profit figures into before-tax and after-tax, plus details of extraordinary items, minority interests and total assets. Disclosure of geographical summaries of advances has been deferred for consideration in subsequent years. Further disclosure of loan quality. Banks already have to disclose provisions for bad debt. Now they will also have to disclose non-performing loans. But the banking policy department of the authority, which drew up the recommendations, has dodged the issue of cash-flow statements. Cash-flow statements reveal whether money has actually flowed into or out of institutions. A decision on whether to recommend cash-flow statements will be considered next year. Peter Pang, executive director (banking policy) of the authority, said the long-running review of disclosure of balance sheet inner reserves was still under way. Many banks in Hong Kong keep their true financial health a secret from most shareholders by maintaining inner reserves. These secret cash funds are used to smooth out profit figures from year to year.