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Deloitte's Roadmap: Transfers and Servicing of Financial Assets

Transfers and Servicing of Financial Assets

This Roadmap provides an overview of the FASB’s authoritative guidance, as well as our insights and interpretations, on (1) the transferor’s and transferee’s accounting for a transfer of financial assets or servicing rights and (2) the servicer’s accounting for a right or obligation to service financial assets.

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  • US GAAP
This Roadmap provides an overview of the FASB’s authoritative guidance, as well as our insights and interpretations, on (1) the transferor’s and transferee’s accounting for a transfer of financial assets or servicing rights and (2) the servicer’s accounting for a right or obligation to service financial assets.
It can be time-consuming and complex to appropriately account for a transfer of financial assets or servicing rights because of the need to consider both legal and accounting rules and interpretations. To properly apply U.S. GAAP to such a transaction, an entity must closely analyze the transaction’s terms and conditions as well as the related facts and circumstances. As part of such an analysis, an entity must generally consult legal experts to determine whether a transfer of financial assets represents a sale under relevant law. The outcome of the analysis could significantly affect the classification, measurement, and earnings impact of the transaction as well as the related financial statement ratios.
The 2022 edition of this Roadmap contains several new discussions although the changes from the 2021 edition are not significant. Appendix D highlights all new content as well as any substantive revisions to previous content.