{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/860/30/#45-other-presentation-matters","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":"860","topic_title":"Transfers and Servicing","subtopic":"860-30","subtopic_title":"Secured Borrowing and Collateral","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"860-30-45-1","para":"45-1","html":"
If the secured party (transferee) has the right by contract or custom to sell or repledge the collateral, then the obligor (transferor) shall reclassify that asset and report that asset in its statement of financial position separately (for example, as security pledged to creditors) from other assets not so encumbered.
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Liabilities incurred by either the secured party or obligor in securities borrowing or resale transactions shall be separately classified.
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 Liabilities , including accrued interest, incurred by either the secured party or obligor in securities borrowing or resale transactions shall be separately classified.
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Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 If as of the date of the most recent statement of financial position the aggregate carrying amount of reverse repurchase agreements (securities or other assets purchased under agreements to resell) exceeds 10 percent of total assets, the assets shall be separately classified.
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This Section does not specify the classification or the terminology to be used to describe the following:
  1. a
    Pledged assets reclassified by the transferor of securities loaned or transferred under a repurchase agreement accounted for as a collateralized borrowing if the transferee is permitted to sell or repledge those securities
  2. b
    Liabilities incurred by either the secured party or obligor in securities borrowing or resale transactions.
Example 1 (see paragraph 860-30-55-1) illustrates possible classifications and terminology.
Transition date:(P) June 30, 2027; (N) June 30, 2027Transition guidance:
105-10-65-7 This Section does not specify the classification or the terminology to be used to describe the following:
  1. a
    Pledged assets reclassified by the transferor of securities loaned or transferred under a repurchase agreement accounted for as a collateralized borrowing if the transferee is permitted to sell or repledge those securities
  2. b
    Liabilities, including accrued interest, incurred by either the secured party or obligor in securities borrowing or resale transactions.
Example 1 (see paragraph 860-30-55-1) illustrates possible classifications and terminology.
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