# ASC 405-940-05: Liabilities — Financial Services—Brokers and Dealers — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/940/#05-overview-and-background)

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## ASC 405-940-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/405/940/#05-overview-and-background)

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##### [405-940-05-1](https://asc.understandingaccounting.org/asc/405/940/#405-940-05-1)

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This Subtopic addresses liabilities for brokers and dealers in securities (broker-dealers), including stock-loan and repo transactions entered into for the purpose of financing investment positions (such as in lieu of a bank loan).