Sheila Bair indicates that the FDIC will require its member institutions to report on how they are using their Troubled Asset Relief Program (TARP) funds. The request is new and the details are not yet specified. At this point, Bair is asking only that recipients report how they used their funds to stimulate lending. They can make the report a part of their 10-k or their annual report.
Bair's actions are the first from a regulator to require some kind of reporting regime. Earlier, advocates had led in wanting some indication of how public funds were being utilized. See the list of banks who have applied for funds here.
This is a step in the right direction, but it seems likely to produce reports that are selectively transparent. A better plan would be to develop a systemic set of guidelines, much like the FFIEC uses for reporting on home mortgage loans or for small business