The Clearing House (TCH) filed a letter responding to the Basel Committee’s technical amendment proposing additional Pillar 3 disclosure requirements for those jurisdictions implementing an expected credit loss accounting standard (ECL). TCH expressed support for the Basel Committee’s goal of comparable and consistent disclosures, but urged that (i) the Basel Committee provide national discretion for implementation of the proposed amendments to the Pillar 3 disclosure requirements and (ii) the proposed disclosure requirements should not be effective for a jurisdiction until that jurisdiction has implemented ECL accounting standards.
You Might Also Be Interested In...
Regulatory Reporting and Accounting BPI and IIB Comment on Federal Reserve Proposal to Revise FR Y-7Q Capital and Asset Report for Foreign Bank Organizations
Regulatory Reporting and Accounting BPI Comments on Fed Proposal to Revise Structure Reporting and Recordkeeping Requirements for Domestic and Foreign Banking Organizations
FinTech & Innovation BPI and SIFMA Submit Letter to Congress in Response to SEC Staff Accounting Interpretation on Crypto-assets
Security Financial Trades Support Modified SEC Cyber Incident Disclosure Proposal to Aid Law Enforcement and Support Remediation Efforts
Regulatory Reporting and Accounting BPI Comments on Federal Reserve Implementation of Capital Assessments and Stress Testing Reports
Regulatory Reporting and Accounting BPI Comments on SEC Rulemaking Regarding Cybersecurity Risk Management and Incident Reporting
More Posts by This Author
Digital Assets BPI Comments on Treasury Department Review of Digital Assets in Response to Executive Order
Community Reinvestment Act BPI Comments on Federal Banking Agencies’ Community Reinvestment Act Proposal
Bank Liquidity The Bank of England Just Released Its Plan for Getting Smaller. The Fed Could Learn from it.