Transfers and Servicing (Topic 860)

Transfers and Servicing ( topic 860 ) No. 2014-11 June 2014 Repurchase-to- maturity Transactions, Repurchase Financings, and Disclosures An Amendment of the FASB Accounting Standards Codification The FASB Accounting Standards Codification is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. An Accounting Standards Update is not authoritative; rather, it is a document that communicates how the Accounting Standards Codification is being amended.

In contrast, the derecognition model in U.S. GAAP primarily focuses on control with limited consideration of risks and rewards. The Board’s decision to require secured borrowing accounting for repurchase-to-maturity transactions sresultin a converged outcome for this type of transaction

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  Model, Topics, Servicing, Transfer, Maturity, Transfers and servicing, Topic 860

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