{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/815/10/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","topic":"815","topic_title":"Derivatives and Hedging","subtopic":"815-10","subtopic_title":"Overall","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"815-10-05-1","para":"05-1","html":"
The Derivatives and Hedging Topic includes the following Subtopics:
  1. a
    Overall
  2. b
    Embedded Derivatives
  3. c
    Hedging—General
  4. d
    Fair Value Hedges
  5. e
    Cash Flow Hedges
  6. f
    Net Investment Hedges
  7. g
    Contracts in Entity's Own Equity
  8. h
    Weather Derivatives.
","snippet":"The Derivatives and Hedging Topic includes the following Subtopics:\n(a) Overall\n(b) Embedded Derivatives\n(c) Hedging—General\n(d) Fair Value Hedges\n(e) Cash Flow Hedges\n(f) Net Investment Hedges\n(g) Contracts in Entity's …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:13164dc24cd43bd0be0703e242c8aa69d652602cffeb78b1698d72c1dec139b5","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-2","para":"05-2","html":"
The first six Subtopics address the accounting for derivative instruments, including certain derivative instruments embedded in other contracts, and hedging activities. The last two Subtopics provide guidance on accounting for contracts that have characteristics of derivative instruments but that are not accounted for as derivative instruments under this Subtopic.
","snippet":"The first six Subtopics address the accounting for derivative instruments, including certain derivative instruments embedded in other contracts, and hedging activities. The last two Subtopics provide guidance on accounti…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b3c78ecab63b5550f09d6b75d14bf169a919a654667b75f28b849dcec2d1af96","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-3","para":"05-3","html":"
The guidance in this Subtopic is presented in the following two Subsections:
  1. a
    General
  2. b
    Certain Contracts on Debt and Equity Securities.
","snippet":"The guidance in this Subtopic is presented in the following two Subsections:\n(a) General\n(b) Certain Contracts on Debt and Equity Securities.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:30aa2ae03923121dac805e0c1786ef59b8349db94ebd0053702bb5764d1f9a59","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-4","para":"05-4","html":"
This Topic requires that an entity recognize derivative instruments, including certain derivative instruments embedded in other contracts, as assets or liabilities in the statement of financial position and measure them at fair value. If certain conditions are met, an entity may elect, under this Topic, to designate a derivative instrument in any one of the following ways:
  1. a
    A hedge of the exposure to changes in the fair value of a recognized asset or liability, or of an unrecognized firm commitment, that are attributable to a particular risk (referred to as a fair value hedge)
  2. b
    A hedge of the exposure to variability in the cash flows of a recognized asset or liability, or of a forecasted transaction, that is attributable to a particular risk (referred to as a cash flow hedge)
  3. c
    A hedge of the foreign currency exposure of any one of the following:
    1. 1
      An unrecognized firm commitment (a foreign currency fair value hedge)
    2. 2
      An available-for-sale debt security (a foreign currency fair value hedge)
    3. 3
      A forecasted transaction (a foreign currency cash flow hedge)
    4. 4
      A net investment in a foreign operation.
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An unrecognized firm commitment can be viewed as an executory contract that represents both a right and an obligation. If a previously unrecognized firm commitment that is designated as a hedged item is accounted for in accordance with this Topic, an asset or a liability is recognized and reported in the statement of financial position related to the recognition of the gain or loss on the firm commitment. Consequently, subsequent references to an asset or a liability in this Topic include a firm commitment.
","snippet":"An unrecognized firm commitment can be viewed as an executory contract that represents both a right and an obligation. If a previously unrecognized firm commitment that is designated as a hedged item is accounted for in …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:477fbefc05873f58e4efe0ed53a9a30404fdc447041f07b554ac9072b1b80b89","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-6","para":"05-6","html":"
This Topic generally provides for matching the timing of gain or loss recognition on the hedging instrument with the recognition of either of the following:
  1. a
    The changes in the fair value of the hedged asset or liability that are attributable to the hedged risk
  2. b
    The earnings effect of the hedged forecasted transaction.
","snippet":"This Topic generally provides for matching the timing of gain or loss recognition on the hedging instrument with the recognition of either of the following:\n(a) The changes in the fair value of the hedged asset or liabil…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3bab8265323c1a5be68dc0886f7b51c70669b50e3ac104e004c0c00c3076ebc6","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-7","para":"05-7","html":"
This Subtopic defines derivative instrument, addresses the pervasive scope of this Topic, and specifies the primary accounting for derivative instruments within this Topic's scope.
","snippet":"This Subtopic defines derivative instrument, addresses the pervasive scope of this Topic, and specifies the primary accounting for derivative instruments within this Topic's scope.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1ba7fae686e267e071a9ff686833686079c229e68a0b2e9143750283dd21bce","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1ef7058f6923d0993e88317c8f2cd97ca66848ac7d5e5a82cc11752a80f78063","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"block":null,"heading":"Synthetic Guaranteed Investment Contracts","paragraphs":[{"citation":"815-10-05-8","para":"05-8","html":"
The following is a background discussion of synthetic guaranteed investment contracts, including a comparison with traditional and benefit-response guaranteed investment contracts. Paragraph 815-10-55-63 states that, from the perspective of the issuer of the contract, synthetic guaranteed investment contracts are derivative instruments within the scope of this Subtopic.
","snippet":"The following is a background discussion of synthetic guaranteed investment contracts, including a comparison with traditional and benefit-response guaranteed investment contracts. Paragraph 815-10-55-63 states that, fro…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fbfc2da176e239dc4f84ab1171849f4192776e9583c18ebbcebae67ad910b45d","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-9","para":"05-9","html":"
In a traditional guaranteed investment contract, the issuer of the contract takes deposits from a benefit plan or other institutional customer and purchases investments that are held in its general account. (Equity investments may also be acquired, although they are less common than fixed income investments.) The customer is a creditor of the issuing entity and therefore has credit risk, although generally the guaranteed investment contract issuers have a high credit-quality rating. The issuer is contractually obligated to repay the principal and specified interest guaranteed to the customer. The plan's provisions typically permit the participant to withdraw funds from the fund at book value (also referred to as account or contract value) for specified reasons, such as loans, hardship withdrawals, and transfers to other investment options offered by the plan.
","snippet":"In a traditional guaranteed investment contract, the issuer of the contract takes deposits from a benefit plan or other institutional customer and purchases investments that are held in its general account. (Equity inves…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4a908da1b90f5b379ea734ee6810f2597d6170e1815fd644be8bc648a9a18b6c","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-10","para":"05-10","html":"
A benefit-responsive guaranteed investment contract contains provisions that mirror the plan's participant-directed withdrawal or transfer provisions. Therefore, the issuer is at risk that interest rates could increase, reducing the price of the fixed-income investments backing the guaranteed investment contract liability, while those investments may have to be sold at a loss to cover withdrawals.
","snippet":"A benefit-responsive guaranteed investment contract contains provisions that mirror the plan's participant-directed withdrawal or transfer provisions. Therefore, the issuer is at risk that interest rates could increase, …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de368a3ce24bf7d203c7fd7a4889e18ae947deddb2a2c1e0bdadb5fd422833f1","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-11","para":"05-11","html":"
A synthetic guaranteed investment contract is a contract that simulates the performance of a traditional guaranteed investment contract through the use of financial instruments. As with other types of guaranteed investment contracts, the specific terms and conditions of synthetic guaranteed investment contracts are negotiated on a case-by-case basis. However, those contracts fall into several broad structural categories, as follows:
  1. a
    Buy-and-hold. Typically, a buy-and-hold synthetic contract covers a limited class of assets, usually high-quality bonds expected to be held to maturity. There is no stated rate guarantee; instead, the interest rate is reset periodically as specified in the contract, subject to a specified floor—for example, 3 percent or 0 percent. The term of the contract generally is consistent with the maturity of the underlying assets. Although buy-and-hold contracts are structured to permit participant withdrawals and transfers at book value, generally no withdrawals are expected. The arrangements between the benefit plan or other institutional investor and the wrap provider typically contain provisions outlining operating and investing guidelines for the customer. These guidelines are designed to ensure the availability of other sources of liquidity sufficient to satisfy expected levels of net participant-directed withdrawals and transfers, without the need to access the assets wrapped by the synthetic guaranteed investment contract. While participants can make withdrawals or transfers at book value, in most cases, the customer can terminate the contract at the value of the assets at any time, but it can withdraw at contract value only at maturity or earlier with a specified notification period.
  2. b
    Actively managed. With an actively managed synthetic guaranteed investment contract, the assets often are managed by an outside investment manager, but may be managed by the insurer. Generally, the contract is evergreen—that is, there is no specified maturity date—and there is no stated rate guarantee; instead, the interest rate is reset periodically as specified in the contract, subject to a specified floor, frequently zero percent and typically not less than zero percent. Participant-directed withdrawals and transfers are made at book value, with future interest returns adjusted to recognize the difference between the fair value and book value of the remaining assets covered by the synthetic guaranteed investment contract, but typically not below a zero interest rate. Customer-initiated withdrawal provisions are similar to those for buy-and-hold guaranteed investment contracts.
  3. c
    Fixed-rate, fixed-maturity. This contract is essentially the same as a traditional general account guaranteed investment contract. The synthetic guaranteed investment contract issuer guarantees a fixed rate for a fixed and certain term and assumes the investment risks and rewards of the assets. If the assets earn less than the guaranteed return, the insurance entity absorbs the loss. If the assets earn more than was assumed in pricing, the income recognized by the insurer will be greater than the wrap fee assumed in the pricing. Typically, the insurer also will be the investment manager because of the assumption of investment risk. Note that participant-initiated withdrawals and transfers of fixed-rate, fixed-maturity contracts are permitted at book value but are expected to occur infrequently. Withdrawals initiated by the customer generally are permitted only at the value of the assets and the guarantee is not activated.
","snippet":"A synthetic guaranteed investment contract is a contract that simulates the performance of a traditional guaranteed investment contract through the use of financial instruments. As with other types of guaranteed investme…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:46acd6791f00be47f517af8e78ad3e7372efbf243482783aeba0e07fa43edf58","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-12","para":"05-12","html":"
A key difference between a synthetic guaranteed investment contract and a traditional guaranteed investment contract is that the policyholder (such as a benefit plan or other institutional customer) owns the assets underlying the synthetic guaranteed investment contract. (With a traditional guaranteed investment contract, the policyholder owns only the contract itself that provides the plan with a call on the contract issuer's assets in the event of default.) Those assets may be held in a trust owned by the policyholder and typically consist of government securities, private and public mortgage-backed securities, and other asset-backed securities, and investment grade corporate obligations. To enable the policyholder to realize a specific known value for the assets if it needs to liquidate them, synthetic guaranteed investment contract utilize a wrapper contract that provides market and cash flow risk protection to the policyholder. This wrapper or guarantee may be provided in a variety of structures. In one structure, the issuer provides cash advances to fund the policyholder's cash withdrawal requirements if the invested asset values have decreased.
","snippet":"A key difference between a synthetic guaranteed investment contract and a traditional guaranteed investment contract is that the policyholder (such as a benefit plan or other institutional customer) owns the assets under…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a61b7c4de4a7456a9835125defc3ea5357f38c5bb93966a872ae54a48e889f25","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-13","para":"05-13","html":"
Other structures include:
  1. a
    A swap agreement whereby the synthetic guaranteed investment contract issuer exchanges a fixed return for the value of supporting assets, if needed for benefit payments
  2. b
    An agreement by the issuer to buy assets at book value if a sale is needed to make benefit payments
  3. c
    A payment upon termination of the contract equal to the difference between a hypothetical book value of plan assets and their value. (Provisions of benefit-responsive traditional guaranteed investment contracts and synthetic guaranteed investment contracts generally prohibit the benefit plan and its sponsor from taking any actions that would encourage participant withdrawals and transfers.)
","snippet":"Other structures include:\n(a) A swap agreement whereby the synthetic guaranteed investment contract issuer exchanges a fixed return for the value of supporting assets, if needed for benefit payments\n(b) An agreement by t…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:98567bda3c45dc78861515a22e54fd6b3199e20a02d0c539469534da36bdbc9e","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-14","para":"05-14","html":"
Synthetic guaranteed investment contracts can be viewed as the issuer selling a put option to the policyholder. For many synthetic guaranteed investment contracts, the option premium is in the form of a fee charged on the outstanding contract book value. For some forms of synthetic guaranteed investment contracts, the option premium for the put option is not explicitly stated but, instead, is embedded in the determination of the investment return guaranteed to the policyholder.
","snippet":"Synthetic guaranteed investment contracts can be viewed as the issuer selling a put option to the policyholder. For many synthetic guaranteed investment contracts, the option premium is in the form of a fee charged on th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a0878cb533cfd26948e0210a7a4cd5be572f88effee5df88954b8a8db01787d1","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"citation":"815-10-05-15","para":"05-15","html":"
In any of the structures, various methods can be used to limit the synthetic guaranteed investment contract issuer's exposure to net payments under the contract. In the current marketplace, most synthetic guaranteed investment contracts pass many of the asset- and cash-flow-related risks to the policyholder. Structures to limit such risk include the following:
  1. a
    Reset of the crediting rate or maturity date. Cash flow volatility (for example, timing of benefit payments) as well as asset underperformance can be passed through to the policyholder through adjustments to future contract crediting rates and/or contract maturities. Formulas are typically provided in the contract that adjust renewal crediting rates to recognize the difference between the fair value and book value of remaining assets in the segregated portfolio.
  2. b
    Exclusion of impaired securities. Impaired securities may also be excluded directly from book value guarantees.
  3. c
    Investment guidelines. Carefully structured investment policy can limit significantly the cash volatility of assets in the segregated portfolio (for example, limit callable securities, mortgage backed securities, and so forth).
  4. d
    Buffer funds. Cash and cash equivalents are maintained and are accessed first to fund benefit payments and thus limit the potential for synthetic guaranteed investment contract issuer's assets to be accessed to make benefit payments.
  5. e
    Liquidation structure of pension plan. Pro rata or tiered structures dictate the order of accessing various plan assets, including synthetic guaranteed investment contract assets, for benefit payments.
","snippet":"In any of the structures, various methods can be used to limit the synthetic guaranteed investment contract issuer's exposure to net payments under the contract. In the current marketplace, most synthetic guaranteed inve…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b632122ffa4c72edb762eed471ee4eca876bf263c8320acbe35124afe21b7474","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:daa2fe5564c414a78ec07c6b7bc8a6de2f54f9b706ddc8335fd090f9ff93b8ef","downloaded_from":"2026-09-10T01:34:53.845Z","last_downloaded_at":"2026-09-10T01:34:53.845Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147480709","source_sha256":"d4ed9f6e042af17db8bf408818bd4a04125954a13cf2c19914977d08afe574c4"}},{"block":"Certain Contracts on Debt and Equity Securities","heading":null,"paragraphs":[{"citation":"815-10-05-16","para":"05-16","html":"
The Certain Contracts on Debt and Equity Securities Subsections provide guidance on certain contracts on debt and equity securities.
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