On Mar. 18, RUS CB proposed updates to accounting reporting rules.
RUS CB proposed ord On the Forms of Disclosure of Information in the Annual Financial (Accounting) Statements of Certain Non-Banking Financial Institutions, Credit Rating Agencies, Credit History Bureaus, and the Procedure for Grouping Accounts in accordance with the Indicators of the Annual Financial (Accounting) Statements
Consultation documents are only available on RUS CB website until comment deadline.
Proposals
The ord proposes the reissue regulation 613-P on forms of disclosure of information in financial statements of non-bank financial firms and procedure for grouping accounts.
Follows, RUS CB Mar. 2023, intangible asset accounting rule update, see #167553.
It establishes disclosure forms for microfinance companies, credit consumer cooperatives, agricultural credit consumer cooperatives, housing savings cooperatives.
And pawnshops, insurance brokers, investment advisers, credit history bureaus, credit rating agencies in their accounting statements, including disclosure about digital RUB.
Effectiveness
The ord is expected to enter into force on Jan. 1, 2025 and comments and feedback are accepted by Mar. 31, 2024.
In Aug. 2024 RUS CB proposed ord invalidating certain regulatory acts, see #221981.
Oct. 2024 Reg Issued
On Oct. 11, 2024, RUS CB issued regulation 844-P on the forms of disclosure of information in the financial (accounting) statements of certain non-banking financial organizations, credit bureaus, credit rating agencies, and the procedure for grouping accounting accounts according to indicators of financial (accounting) statements.
