4.1 General

ASC 860-20

05-1 This Subtopic provides guidance on the accounting for a transfer of financial assets that satisfies the conditions for sale accounting in paragraph 860-10-40-5 and the accounting if a transferor regains control of assets previously sold.

Overall Guidance

15-1 This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 860-10-15.

Pending Content (Transition Guidance: ASC 105-10-65-7)

15-1 This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 860-10-15, with specific transaction qualifications noted below. Paragraph 860-30-50-7(d) applies to public business entities only.

ASC 860-20 provides guidance on the transferor’s (1) accounting for a sale of financial assets, (2) rerecognition of financial assets previously considered sold, and (3) disclosures related to sales of financial assets when the transferor has continuing involvement in the transferred financial assets. In addition, ASC 860-20 discusses the transferee’s accounting in situations in which a transferor accounts for a sale of financial assets or rerecognizes financial assets previously considered sold.

Confidential and Proprietary — for Use Solely by Authorized Personnel

This publication provides comprehensive guidance; however, it does not address all possible fact patterns, and the guidance is subject to change. Consult a Deloitte & Touche LLP professional regarding your specific issues and questions.