# ASC 860-30-60: Transfers and Servicing — Secured Borrowing and Collateral — 60 Relationships

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/860/30/#60-relationships)

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## ASC 860-30-60: 60 Relationships

[Read section](https://asc.understandingaccounting.org/asc/860/30/#60-relationships)

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#### Balance Sheet

##### [860-30-60-1](https://asc.understandingaccounting.org/asc/860/30/#860-30-60-1)

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For the conditions that must be met for an entity to be permitted to offset amounts recognized as payables under [repurchase agreements accounted for as collateralized borrowings](https://asc.understandingaccounting.org/glossary/r/#repurchase-agreement-accounted-for-as-a-collateralized-borrowing "A repurchase agreement (repo) refers to a transaction in which a seller-borrower of securities sells those securities to a buyer-lender with an agreement to repurchase them at a stated price plus interest at a specified date or in specified circumstances. A repurchase agreement accounted for as a collateralized borrowing is a repo that does not qualify for sale accounting under Topic 860. The payable under a repurchase agreement accounted for as a collateralized borrowing refers to the amount of the seller-borrower's obligation recognized for the future repurchase of the securities from the buyer-lender. In certain industries, the terminology is reversed; that is, entities in those industries refer to this type of agreement as a reverse repo.") and amounts recognized as receivables under [reverse repurchase agreements accounted for as collateralized borrowings](https://asc.understandingaccounting.org/glossary/r/#reverse-repurchase-agreement-accounted-for-as-a-collateralized-borrowing "A reverse repurchase agreement accounted for as a collateralized borrowing (also known as a reverse repo) refers to a transaction that is accounted for as a collateralized lending in which a buyer-lender buys securities with an agreement to resell them to the seller-borrower at a stated price plus interest at a specified date or in specified circumstances. The receivable under a reverse repurchase agreement accounted for as a collateralized borrowing refers to the amount due from the seller-borrower for the repurchase of the securities from the buyer-lender. In certain industries, the terminology is reversed; that is, entities in those industries refer to this type of agreement as a repo."), see paragraphs

[210-20-45-11 through 45-12](https://asc.understandingaccounting.org/asc/210/20/#210-20-45-11)

.