The exemption at issue allows midsized banks to not disclose unrealized losses on their holdings of securities designated as ‘available for sale’
U.S. Federal Reserve is considering ending an exemption that has allowed certain midsize banks to conceal losses on securities they hold, the Wall Street Journal reported on Friday, signaling a retightening of bank oversight is in the cards following last month’s failures of Silicon Valley Bank and Signature Bank.
The exemption at issue allows midsized banks to not disclose unrealized losses on their holdings of securities designated as “available for sale”, which has enabled them to inflate the amount of capital they disclose for regulatory reasons, the report said, citing people familiar with matter.
In hearings last month, Barr told lawmakers that supervisors had repeatedly identified risks to SVB, beginning in 2021, and even took steps to restrict its growth in 2022 because they went unaddressed.
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