SEC Proposes Rule to Update Statistical Disclosure Requirements for Banking Registrants
September 18, 2019
The SEC has issued a proposed rule, Update of Statistical Disclosures for Bank and Savings and Loan Registrants.
The proposed rule would supersede Industry Guide 3, Statistical Disclosure by Bank Holding Companies (which does not contain SEC rules), to which banking registrants are currently subject. Specifically, the proposal would codify certain disclosure requirements from Guide 3 and move “the codified disclosures to a new subpart of Regulation S-K.” The proposal’s scope would include bank holding companies and other registrants that currently provide disclosures under Guide 3 (e.g., banks, savings and loan associations, savings and loan holding companies). The press release on the proposed rule states that registrants within the proposal’s scope would be required to disclose the following:
- Distribution of assets, liabilities and stockholders’ equity, the related interest income and expense, and interest rates and interest differential;
- Weighted average yield of investments in debt securities by maturity;
- Maturity analysis of the loan portfolio including the amounts that have predetermined interest rates and floating or adjustable interest rates;
- An allocation of the allowance for credit losses and certain credit ratios; and
- Information about bank deposits including amounts that are uninsured.
Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register.