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Appendix A — Fair Value Disclosure Requirements of Other Codification Topics

A.25 ASC 942, Financial Services — Depository and Lending

A.25 ASC 942, Financial Services — Depository and Lending

ASC 942-320
50-1 For purposes of the disclosure requirements of paragraphs 320-10-50-1 through 50-3 and 320-10-50-5 through 50-5C, the term financial institutions includes banks, savings and loan associations, savings banks, credit unions, finance companies, and insurance entities.
50-1A The disclosures in paragraphs 942-320-50-1 through 50-3 are required for interim and annual periods.
50-2 In complying with the requirements in paragraph 942-320-50-1, financial institutions shall include in their disclosure all of the following major security types, although additional types also may be necessary:
a. Equity securities, segregated by any one of the following:
1. Industry type
2. Entity size
3. Investment objective.
b. Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies
c. Debt securities issued by states of the United States and political subdivisions of the states
d. Debt securities issued by foreign governments
e. Corporate debt securities
f. Residential mortgage-backed securities
ff. Commercial mortgage-backed securities
fff. Collateralized debt obligations
g. Other debt obligations.
Pending Content (Transition Guidance: ASC 270-10-65-1)
50-2 In complying with the requirements in paragraph 942-320-50-1, financial institutions shall include in their disclosure in interim and annual reporting periods all of the following major security types, although additional types also may be necessary:
a. Equity securities, segregated by any one of the following:
1. Industry type
2. Entity size
3. Investment objective.
b. Debt securities issued by the U.S. Treasury and other U.S. government corporations and agencies
c. Debt securities issued by states of the United States and political subdivisions of the states
d. Debt securities issued by foreign governments
e. Corporate debt securities
f. Residential mortgage-backed securities
ff. Commercial mortgage-backed securities
fff. Collateralized debt obligations
g. Other debt obligations.
50-2A Investments in mutual funds that invest only in U.S. government debt securities may be shown separately rather than grouped with other equity securities in the disclosures by major security type required by paragraph 942-320-50-2.
Pending Content (Transition Guidance: ASC 270-10-65-1)
50-2A For interim and annual reporting periods, investments in mutual funds that invest only in U.S. government debt securities may be shown separately rather than grouped with other equity securities in the disclosures by major security type required by paragraph 942-320-50-2.
50-3 In complying with this requirement, financial institutions shall disclose the net carrying amount of debt securities based on at least 4 maturity groupings:
  1. Within 1 year
  2. After 1 year through 5 years
  3. After 5 years through 10 years
  4. After 10 years.
Securities not due at a single maturity date, such as mortgage-backed securities, may be disclosed separately rather than allocated over several maturity groupings. If allocated, the basis for allocation also shall be disclosed.
Pending Content (Transition Guidance: ASC 270-10-65-1)
50-3 In complying with this requirement, financial institutions shall disclose the net carrying amount of debt securities in interim and annual reporting periods based on at least 4 maturity groupings:
  1. Within 1 year
  2. After 1 year through 5 years
  3. After 5 years through 10 years
  4. After 10 years.
Securities not due at a single maturity date, such as mortgage-backed securities, may be disclosed separately rather than allocated over several maturity groupings. If allocated, the basis for allocation also shall be disclosed.
50-3A A financial institution that is a public business entity shall disclose the fair value of the debt securities based on at least 4 maturity groupings:
  1. Within 1 year
  2. After 1 year through 5 years
  3. After 5 years through 10 years
  4. After 10 years.
Securities not due at a single maturity date, such as mortgage-backed securities, may be disclosed separately rather than allocated over several maturity groupings. If allocated, the basis for allocation also shall be disclosed.
Pending Content (Transition Guidance: ASC 270-10-65-1)
50-3A A financial institution that is a public business entity shall disclose the fair value of the debt securities in interim and annual reporting periods based on at least 4 maturity groupings:
  1. Within 1 year
  2. After 1 year through 5 years
  3. After 5 years through 10 years
  4. After 10 years.
Securities not due at a single maturity date, such as mortgage-backed securities, may be disclosed separately rather than allocated over several maturity groupings. If allocated, the basis for allocation also shall be disclosed.