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This chapter discusses the presentation and disclosure requirements for transfers of financial assets and provides sample disclosures for various types of transfers. It also discusses presentation and disclosure considerations relating to recognized servicing assets and liabilities.
First, the chapter addresses disclosure objectives and the aggregation of disclosures. Next, it discusses presentation and disclosure considerations applicable to various types of transfers, including those exchanges accounted for as sales and those reported as collateralized borrowings. The chapter concludes with a discussion of presentation and disclosure considerations pertinent to servicing assets and liabilities.
Disclosure samples included in this chapter address some of the more common types of financial asset transfers, including:
  • An originator’s sale of whole loans to a securitization trust that it does not consolidate, with the originator retaining servicing and holding an economic interest in the trust
  • A lender’s periodic sales of participations in certain loans to third-party investors that qualify as a participating interest under ASC 860, Transfers and Servicing
  • A reporting entity’s periodic transfers of trade receivables to a multi-seller commercial paper conduit in exchange for cash and a subordinated interest in the receivables sold
  • Repurchase and securities lending transactions involving exchanges of securities for cash and reported as collateralized borrowing arrangements
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