# ASC 405-940-45: Liabilities — Financial Services—Brokers and Dealers — 45 Other Presentation Matters

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/405/940/#45-other-presentation-matters)

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## ASC 405-940-45: 45 Other Presentation Matters

[Read section](https://asc.understandingaccounting.org/asc/405/940/#45-other-presentation-matters)

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##### [405-940-45-1](https://asc.understandingaccounting.org/asc/405/940/#405-940-45-1)

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Stock-loan and [repurchase transactions](https://asc.understandingaccounting.org/glossary/r/#repurchase-agreement "An agreement under which the transferor (repo party) transfers a financial asset to a transferee (repo counterparty or reverse party) in exchange for cash and concurrently agrees to reacquire that financial asset at a future date for an amount equal to the cash exchanged plus or minus a stipulated interest factor. Instead of cash, other securities or letters of credit sometimes are exchanged. Some repurchase agreements call for repurchase of financial assets that need not be identical to the financial assets transferred.") may be entered into for the purpose of financing positions (such as in lieu of a bank loan). Topic 860 provides general guidance on such transactions. If such transactions are accounted for as financing transactions, the rebate or interest expense shall be reflected in the income statement as an expense separate and apart from any trading gains or losses.