# ASC 470-942-50: Debt — Financial Services—Depository and Lending — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/470/942/#50-disclosure)

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## ASC 470-942-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/470/942/#50-disclosure)

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#### Fair Value of Deposit Liabilities

##### [470-942-50-1](https://asc.understandingaccounting.org/asc/470/942/#470-942-50-1)

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In estimating the fair value of deposit liabilities, a financial entity shall not take into account the value of its long-term relationships with depositors, commonly known as core deposit intangibles, which are separate intangible assets, not financial instruments.

#### Long-Term Obligations

##### [470-942-50-2](https://asc.understandingaccounting.org/asc/470/942/#470-942-50-2)

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Accounting and reporting requirements for long-term obligations are the same for financial institutions as for other entities. If the financial institution has an unclassified balance sheet, there is no need to separate balances into current and long-term portions. Topic 440 requires disclosure of future payments on long-term borrowings.

#### Debt

##### [470-942-50-3](https://asc.understandingaccounting.org/asc/470/942/#470-942-50-3)

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For debt, the notes to the financial statements shall describe the principal terms of the respective agreements including but not limited to all of the following:

1.  a
    
    The title or nature of the agreement, or both
    
2.  b
    
    The interest rate (and whether it is fixed or floating)
    
3.  c
    
    The payment terms and maturity date(s)
    
4.  d
    
    Collateral
    
5.  e
    
    Conversion or redemption features
    
6.  f
    
    Whether it is senior or subordinated
    
7.  g
    
    Restrictive covenants (such as dividend restrictions), if any.