On September 11, the Securities and Exchange Commission announced that it had adopted rules that update and expand the statistical disclosures that bank and savings and loan registrants provide to investors while eliminating duplicative disclosures. The new SEC rules require disclosure about 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;
- certain credit ratios and the factors that explain material changes in the ratios, or the related components during the periods presented;
- the allowance for credit losses by loan category; and
- bank deposits including average amounts and rate paid and amounts that are uninsured.
The adopted rules will be effective 30 days after publication in the Federal Register and will apply to fiscal years ending on or after December 15, 2021. Voluntary compliance with the new rules will be accepted prior to such compliance date.
The SEC press release is available here.