SEC to Make Wall Street Banks Reveal Capital, Liquidity Levels
By Jesse Westbrook
May 7 (Bloomberg) -- The U.S. Securities and Exchange Commission will require Wall Street investment banks to disclose their capital and liquidity levels, after speculation about a cash shortage at Bear Stearns Cos. triggered a run on the firm, SEC Chairman Christopher Cox said.
The disclosures will be ``in terms that the market can readily understand and digest,'' Cox said today during a speech in Washington. The SEC will require the disclosures ``later this year,'' he said.
To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.
Last Updated: May 7, 2008 14:05 EDT
“Not everyone who calls out to me, ‘Lord, Lord,’ will be saved, but only the those who have done the will of my Father in heaven. Many will say to me on that day, ‘Lord, Lord, did we not prophesy in your name, drive out demons in your name, and perform many great deeds in your name?’ Then I will declare to them solemnly, ‘I never knew you. Depart from me, you servants of lawlessness.’”
Matthew 7:21-23