The Securities & Exchange Commission is hosting a webcast and voting Friday on "Short-​Term Borrowings Disclosure." The agenda says, "The Commission will consider whether to propose rules that would require a public company to provide certain disclosures about its short-​term borrowings in its filings with the Commission. The Commission will also consider whether to publish an interpretive release to provide guidance regarding the Commission'​s current disclosure requirements in "​Management'​s Discussion and Analysis of Financial Condition and Results of Operations" relating to liquidity and capital resources." A "Fact Sheet" released this morning says, "​In order to fund operations, many financial institutions and other companies engage in short-​term borrowing -- that is, a financing arrangement that generally matures in a year or less. Such borrowing arrangements have become increasingly common and can take many forms, including commercial paper, repurchase agreements, letters of credit, promissory notes and factoring. Due to their short-​term nature, a company'​s use of these kinds of financing arrangements can fluctuate significantly during a reporting period. Currently, Commission rules require companies to disclose short-​term borrowings at the end of the period. But there is no specific requirement to disclose information about the amount of short-​term borrowings outstanding throughout the reporting period."

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