FSB Proposes Reporting Standards for Securities Financing Transactions

On November 13th, the Financial Stability Board published for comment “Standards and Processes for Global Securities Financing Data Collection and Aggregation.” The proposed standards and processes define the data elements for repurchase agreements, securities lending, and margin lending that national/regional authorities would be asked to report as aggregates to the FSB for financial stability purposes. Comments should be submitted on or before February 12, 2015. FSB Press Release.

Another Use of Form 10-K

On November 12th, CFO.com summarized a study conducted by Ohio State University accounting professor Jeffrey Hoopes entitled “Reading the Roadmap: IRS Attention to Financial Statements.” The study notes the IRS’s increased usage of firms’ Form 10-K’s and what that usage may mean. Map Reading.

FSB Proposes Recapitalization Rules for Largest Banks

On November 10th, the Financial Stability Board (the “FSB”) requested comment on proposed rules that would require global systemically important banks to hold additional buffers, called total loss-absorbing capacity, to ensure that these firms have sufficient capacity to absorb losses, both before and during resolution. Comments should be submitted on or before February 2, 2015. FSB Press Release.