SEC publishes final rule on bank and S&L disclosures

The Securities and Exchange Commission has published [85 FR 66108] its final rule [see our earlier Top Story] updating the statistical disclosure requirements for banking registrants. The amendments update and expand the disclosures that registrants are required to provide, codify certain Guide 3 disclosure items and eliminate other Guide 3 disclosure items that overlap with Commission rules, U.S. Generally Accepted Accounting Principles (“U.S. GAAP”), or International Financial Reporting Standards (“IFRS”). In addition, the amendments relocate the codified disclosure requirements to a new subpart of Regulation S-K and rescind Guide 3.