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The SEC proposed new rules and amendments that would (i) update the statistical disclosures for bank and savings and loan registrants and (ii) eliminate redundant disclosures.
According to the SEC, the proposal reflects the significant financial reporting changes since the agency last updated Industry Guide 3 - "Statistical Disclosure by Bank Holding Companies." The SEC is considering replacing Guide 3 with an updated disclosure in Regulation S-K.
Specifically, the proposal would require bank holding companies, banks, and savings and loan holding companies to disclose:
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the distribution of assets, liabilities and stockholders' equity, the related interest income and expense, and interest rates and the interest differential;
- the weighted average yield of investments in debt securities by maturity;
- the maturity analysis of the loan portfolio;
- an allocation of the allowance for credit losses and certain credit ratios; and
- information on bank deposits.
Comments on the proposal must be submitted within 60 days after its publication in the Federal Register.
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