# ASC 470-942-05: Debt — Financial Services—Depository and Lending — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/470/942/#05-overview-and-background)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T00:33:52.398Z to 2026-09-10T00:33:52.398Z

Record version: sha256:37f4d7239aecd34cd1c9cdf149f1ba0a022009237a305fd797220e9cb810f985

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


## ASC 470-942-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/470/942/#05-overview-and-background)

SEC content: no

##### [470-942-05-1](https://asc.understandingaccounting.org/asc/470/942/#470-942-05-1)

Pending content: no

Source downloaded (UTC): 2026-09-10T00:33:52.398Z to 2026-09-10T00:33:52.398Z

Record version: sha256:9a4275b888e149edd2cc8c3cbe03201741c47ae8ab402b033029902d706b1467

Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f

Effective as of: not established by retrieval timestamps.


This Subtopic provides disclosure and presentation guidance concerning certain borrowings and long-term obligations of financial institutions.