# ASC 860-10-50: Transfers and Servicing — Overall — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/860/10/#50-disclosure)

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## ASC 860-10-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/860/10/#50-disclosure)

SEC content: no

##### [860-10-50-1](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-1)

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[Paragraph superseded by Accounting Standards Update No. 2009-16](https://asc.understandingaccounting.org/updates/asu-2009-16/).

##### [860-10-50-2](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-2)

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Overall guidance on Topic 860 disclosures is organized as follows:

1.  a
    
    Disclosure objectives
    
2.  b
    
    Aggregation of certain disclosures
    
3.  c
    
    Involvements by others.

##### [860-10-50-3](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-3)

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The principal objectives of the disclosure requirements of this Topic are to provide financial statement users with an understanding of all of the following:

1.  a
    
    A transferor's [continuing involvement](https://asc.understandingaccounting.org/glossary/c/#continuing-involvement "Any involvement with the transferred financial assets that permits the transferor to receive cash flows or other benefits that arise from the transferred financial assets or that obligates the transferor to provide additional cash flows or other assets to any party related to the transfer. For related implementation guidance, see paragraph 860-10-55-79A."), if any, with [transferred financial assets](https://asc.understandingaccounting.org/glossary/t/#transferred-financial-assets "Transfers of any of the following: An entire financial asset A group of entire financial assets A participating interest in an entire financial asset.")
    
2.  b
    
    The nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred [financial asset](https://asc.understandingaccounting.org/glossary/f/#financial-asset "Cash, evidence of an ownership interest in an entity, or a contract that conveys to one entity a right to do either of the following: Receive cash or another financial instrument from a second entity Exchange other financial instruments on potentially favorable terms with the second entity."), including the carrying amounts of those assets
    
3.  c
    
    How servicing assets and servicing liabilities are reported under Subtopic 860-50
    
4.  d
    
    For both of the following, how the [transfer](https://asc.understandingaccounting.org/glossary/t/#transfer "The conveyance of a noncash financial asset by and to someone other than the issuer of that financial asset. A transfer includes the following: Selling a receivable Putting a receivable into a securitization trust Posting a receivable as collateral. A transfer excludes the following: The origination of a receivable Settlement of a receivable The restructuring of a receivable into a security in a troubled debt restructuring.") of financial assets affects an entity's financial position, financial performance, and cash flows:
    
    1.  1
        
        Transfers accounted for as sales, if a transferor has continuing involvement with the transferred financial assets
        
    2.  2
        
        Transfers of financial assets accounted for as secured borrowings.

##### [860-10-50-4](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-4)

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The objectives in the preceding paragraph apply regardless of whether this Topic requires specific disclosures. The specific disclosures required by this Topic are minimum requirements, and an entity may need to supplement the required disclosures depending on any of the following:

1.  a
    
    The facts and circumstances of a transfer
    
2.  b
    
    The nature of an entity's continuing involvement with the transferred financial assets
    
3.  c
    
    The effect of an entity's continuing involvement on the transferor's financial position, financial performance, and cash flows.
    

Disclosures required for a particular form of continuing involvement shall be considered when determining whether the disclosure objectives of this Topic have been met.

##### [860-10-50-4A](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-4A)

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Disclosures required by this Topic may be reported in the aggregate for similar transfers if separate reporting of each transfer would not provide more useful information to financial statement users. A transferor shall both:

1.  a
    
    Disclose how similar transfers are aggregated
    
2.  b
    
    Distinguish between transfers that are accounted for as secured borrowings and transfers that are accounted for as sales.
    

Transition date:(P) December 16, 2027; (N) December 16, 2028Transition guidance:

[270-10-65-1](https://asc.understandingaccounting.org/asc/270/10/#270-10-65-1)Disclosures required by this Topic may be reported in the aggregate for similar transfers if separate reporting of each transfer would not provide more useful information to financial statement users. For interim and annual reporting periods, a transferor shall both:

1.  a
    
    Disclose how similar transfers are aggregated
    
2.  b
    
    Distinguish between transfers that are accounted for as secured borrowings and transfers that are accounted for as sales.

##### [860-10-50-5](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-5)

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In determining whether to aggregate the disclosures for multiple transfers, the reporting entity shall consider quantitative and qualitative information about the characteristics of the transferred financial assets, including all of the following:

1.  a
    
    The nature of the transferor's continuing involvement
    
2.  b
    
    The types of financial assets transferred
    
3.  c
    
    Risks related to the transferred financial assets to which the transferor continues to be exposed after the transfer and the change in the transferor's risk profile as a result of the transfer
    
4.  d
    
    The guidance in paragraph [310-10-50-25](https://asc.understandingaccounting.org/asc/310/10/#310-10-50-25) (for risks and uncertainties) and paragraphs
    
    [825-10-55-1 through 55-2](https://asc.understandingaccounting.org/asc/825/10/#825-10-55-1)
    
    (for concentrations involving loan product terms).

##### [860-10-50-6](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-6)

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The disclosures shall be presented in a manner that clearly and fully explains to financial statement users the transferor's risk exposure related to the transferred financial assets and any restrictions on the assets of the entity. An entity shall determine, in light of the facts and circumstances, how much detail it must provide to satisfy disclosure requirements of this Topic and how it aggregates information for assets with different risk characteristics. The entity shall strike a balance between obscuring important information as a result of too much aggregation and excessive detail that may not assist financial statement users to understand the entity's financial position. For example, an entity shall not obscure important information by including it with a large amount of insignificant detail. Similarly, an entity shall not disclose information that is so aggregated that it obscures important differences between the different types of involvement or associated risks.

#### Involvements by Others

##### [860-10-50-7](https://asc.understandingaccounting.org/asc/860/10/#860-10-50-7)

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To apply the disclosures required in this Topic, an entity shall consider all involvements by the transferor, its [consolidated affiliates](https://asc.understandingaccounting.org/glossary/c/#consolidated-affiliate "An entity whose assets and liabilities are included in the consolidated, combined, or other financial statements being presented.") included in the financial statements being presented, or its [agents](https://asc.understandingaccounting.org/glossary/a/#agent "A party that acts for and on behalf of another party. For example, a third-party intermediary is an agent of the transferor if it acts on behalf of the transferor.") to be involvements by the transferor.