Posted on Tuesday, December 3, 2019

XBRL US submitted a comment letter responding to the SEC proposal, Update of Statistical Disclosures for Banks and Savings and Loan Registrants. The letter noted that we strongly disagree with the proposal as stated which does not require the use of data standards for reported information that is highly financial in nature. Data reported through Guide 3 falls into seven areas: (1) distribution of assets, liabilities and stockholders’ equity; interest rates and interest differential, (2) investment portfolios, (3) loan portfolios, (4) summary of loan loss experience, (5) deposits, (6) return on equity and assets, and (7) short-term borrowings.

Read the letter: XBRL US Response to Update of Statistical Disclosures for Bank and Saving and Loan Reg File No S7-02-17