S.Amdt. 3804

SA 3804. Mr. MENENDEZ submitted an amendment intended to be proposed
to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself
and Mrs. Lincoln)) to the bill S. 3217, to promote the financial
stability of the United States by improving accountability and
transparency in the financial system, to end ``too big to fail'', to
protect the American taxpayer by ending bailouts, to protect consumers
from abusive financial services practices, and for other purposes;
which was ordered to lie on the table; as follows:

At the end of subtitle A of title I, add the following:

SEC. 122. ENHANCED DISCLOSURES.

Section 13 of the Securities Exchange Act of 1934 (15
U.S.C. 78m) is amended by adding at the end the following:
``(n) Enhanced Disclosures Required.--
``(1) In general.--The Commission shall, by rule, with
respect to each issuer that is subject to enhanced standards
under title I of the Restoring American Financial Stability
Act of 2010, and that is required to file periodic reports
with the Commission, and any other issuers that the
Commission determines appropriate--
``(A) require each such issuer to provide, together with
its annual reports to the Commission, a detailed written
description of all off balance sheet activities of the issuer
and a detailed justification for not putting each of those
activities on the balance sheet; and
``(B) pursuant to its authority under section 13 and 15(d),
require each such issuer to disclose in each quarterly and
annual filings required by the rules of the Commission--
``(i) the total liabilities of the issuer as of period end
and total assets as of period end;
``(ii) the average daily liabilities during the measured
period and average daily assets during the measured period;
``(iii) any short term borrowings, including separately
presenting securities sold under agreements to repurchase,
shown as of the end of the period and as a daily average
during the period;
``(iv) a period end leverage ratio, measured as total
equity capital as of period end, divided by total assets as
of period end;
``(v) an average daily leverage ratio, measured as average
daily equity capital during the measured period, divided by
average daily assets during the measured period; and
``(vi) any other leverage or liquidity ratios that the
Commission determines, by rule, to be appropriate.
``(2) Transactions affecting future liquidity.--The
Commission shall issue rules requiring the disclosure of
information on transactions that were accounted for as sales
by the issuer, but have implications for future liquidity.
``(3) Graphic representations authorized.--The disclosures
under this subsection may include a graphic representation of
the information required to be disclosed.''.
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