Bank Failure Disclosure Issues and Considerations

Summary

The recent failures of Silicon Valley Bank (NASDAQ: SIVB), Signature Bank (NASDAQ: SBNY), and Silvergate Bank (NYSE: SI) in the United States, as well as the collapse of global investment bank Credit Suisse (NYSE: CS), have led to widespread volatility in the financial markets and banking systems. Reporting companies with exposure to these or other potentially troubled banks should carefully consider their disclosure obligations under the Securities Exchange Act of 1934 (Exchange Act). This article highlights disclosure items U.S. reporting companies should consider in their filings with the Securities and Exchange Commission given these events and provides, where available, examples of public filings with such disclosures.