Commission on the Securities and Exchange Commission (SEC) the U.S. will require companies to disclose information about the average and total short-term debt for the entire reporting period, not just in the last quarter.
New measures for the adoption of which voted on Friday SEC, aimed at combating window dressing - the practice of temporary sharp decline in debt shortly before the publication of statements followed by reduction of the volume to its previous level. Arrangements have been made investors will have more complete data about the level of liquidity and leverage of the company, Interfax reported.
For more information on average and full-level short-term debt during the reporting period, and also used by companies financial schemes will be included in annual and quarterly reports of companies.
Measures will be taken by the SEC finally approved after studying the explanations and comments received during the two months.
Conducted previously by the newspaper The Wall Street Journal survey showed that the 18 largest banks in the U.S. has reduced the level of debt immediately before the promulgation of accounting at the end of each of the last six quarters. In this case, the average bank reduces the amount of debt by 42%.
In March the SEC is investigating the 24 largest U.S. financial companies, is subject to the financial reporting violations, such as those noted in the bank Lehman Brothers. The study of the circumstances of the collapse of Lehman Brothers revealed that the bank's management approves of misleading financial statements and applied the tricks to leveling quarterly.
Fraud included the use of the repo, which allowed Lehman Brothers to reduce the apparent level of loan debt, look better in the eyes of the market and have higher ratings. In 2008, the bank did not disclose details of financial transactions that allowed him to keep $ 50 billion in debt off-balance accounts.
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