NORWALK, Conn.-Credit unions and other entities will have to disclose more about the risks they may face in meeting their financial obligations and in dealing with changes in interest rates under a proposal issued by the Financial Accounting Standards Board.

Under the proposal, institutions would have to provide a table showing their available liquid funds-cash, high-quality assets they could sell quickly, and available borrowing capacity-and discuss their exposure to liquidity risk, how it's changed and how they're managing it. Financial institutions would have to provide further information, such as a table of all their financial assets and liabilities broken down by maturity, including off-balance-sheet obligations.

Financial institutions would also have to disclose how changes in interest rates would affect profits and shareholders' equity.

FASB previously beefed up disclosure requirements for credit risk, which played a key role in the financial crisis. The FASB proposal comes as NCUA is also seeking to increase scrutiny in these areas, with a proposal that would require credit unions to list back-up sources of liquidity, and a new rule passed last year that requires all credit unions to have a written interest rate risk policy.

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