US
Initial Federal Register (2023-04136) Proposed Changes to Q3 2023 Survey of Small Business Lending (FR 2028D) Report
The Federal Reserve proposed changes to the forms/instructions for the Small Business Lending Survey (FR 2028 D) effective as-of September 30th, 2023, with the transmission period beginning on October 1st, 2023, based on loan activity over the third quarter 2023. The FR 2028D collects quarterly average quantitative data on the terms of small business loans and qualitative information on changes and the reasons for changes in the terms of lending. The proposed revisions consist of deleting items, adding items, and modifying or clarifying instructions for existing data items. DRAFT Forms/Instructions posted on FFIEC Website. Comments must be submitted on or before May 1st, 2023.
Options Clearing Corporation (OpCC) Issued New Disclosure Document on Options Risks
The Options Clearing Corporation (OpCC) issued revised options disclosure document (ODD) on product risks and benefits. The initial document was issued on October 29th, 2021 with the aim of enhancing and easing digital use. On March 1th, 2022, OpCC issued an updated version of the options disclosure document. On February 28th, 2023, the OpCC advised members it had submitted a new options disclosure to the SEC, entitled “Characteristics and Risks of Standardized Options (ODD).” The revised ODD has new language regarding cash-settled flexibly structured options on certain fund shares, among other changes. The new ODD is scheduled for distribution in late 2023 and OpCC will notify members of the effective date.
Global
Bank of International Settlements (BIS) publishes Basel III Monitoring Exercise Report
Basel has published its Basel III monitoring exercise results, based on June 20th, 2022 data. The Basel III monitoring report sets out the impact of the Basel III framework, including the December 2017 finalization of Basel III reforms and the January, 2019 market risk framework finalization. The latest monitoring report includes a special feature on the regional distribution of Group 1 and Group 2 banks and their impact on results in Basel III monitoring reports. The results show initial Basel III capital ratios decreased to pre-pandemic levels in the first half of 2022 and liquidity ratios declined but remained above pre-pandemic levels. The implementation of final Basel III minimum requirements began on January 1st, 2023.
