SEC Issues Final Rule on Disclosures for Banking Registrants

The SEC has issued a final rule, Update of Statistical Disclosures for Bank and Savings and Loan Registrants.

The final rule “update[s] and expand[s] the statistical disclosures that bank and savings and loan registrants provide to investors, in light of changes in this sector over the past 30 years.” It also (1) eliminates “certain disclosure items that are duplicative of other SEC rules and requirements of U.S. GAAP or IFRS” and (2) replaces Industry Guide 3, Statistical Disclosure by Bank Holding Companies, with updated disclosure requirements in a new subpart of Regulation S-K.

For more information, see the press release on the SEC’s Web site.