Which Basel pillar mainly enforces market discipline through standardized disclosure of a bank's capital, exposures and risk management?

Explanation: The Basel Capital Accord is structured around three complementary pillars: Pillar 1 (Minimum Capital Requirements, covering quantitative capital requirements for credit, market and operational risks), Pillar 2 (Supervisory Review Process, involving regulatory oversight and internal capital adequacy assessment), and Pillar 3 (Market Discipline). Pillar 3 is specifically concerned with public disclosure, requiring banks to provide standardized information on regulatory capital, risk-weighted assets, risk exposures and risk management processes.