On December 2, BPI and SIFMA submitted a comment letter to the SEC responding to proposed updates and revisions to the SEC’s Industry Guide 3 governing disclosure requirements by bank and savings and loan holding companies. The letter supports proposed updates, including the elimination of duplicative disclosure requirements, reduction in required reporting periods, and codification of disclosures within Regulation S-K. The letter recommends that the SEC eliminate disclosure requirements of uninsured time deposits and requirements to disclose more broadly in XBRL format. In addition to other recommendations, the letter further encourages the SEC to retain its guidance allowing registrants to exclude or aggregate certain loan categories for the loan maturity table, allowance for credit losses, and credit ratio disclosures.
You Might Also Be Interested In...
Regulatory Reporting and Accounting BPI and Coalition of Trades Oppose PCAOB’s Proposed Changes to Auditing Standards
Regulatory Reporting and Accounting BPI Comments on Banking Agencies’ Proposed Revisions to Call Reports and FR Y-9
Regulatory Reporting and Accounting BPI Comments on CFPB’s Proposed Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders
Regulatory Reporting and Accounting BPI Responds to NYDFS Request for Comments Concerning Presumption of Control of NY-Charted or Licensed Institutions
Security BPI and SIFMA Respond to NYDFS Proposal on Cybersecurity Requirements for Financial Services Companies
More Posts by This Author
Bank Capital and Stress Testing U.S. Bank Capital Levels: Aligning With or Exceeding Midpoint Estimates of Optimal