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Repurchase Agreements — FASB Rethinks Proposal

Published on: 29 May 2013

At its meeting last week, the FASB discussed feedback from comment letters on its proposed Accounting Standards Update (ASU) Effective Control for Transfers With Forward Agreements to Repurchase Assets and Accounting for Repurchase Financings. On the basis of the feedback, the FASB tentatively decided not to proceed with the guidance in the proposed ASU. Instead, the Board decided to retain the current effective control model for all repurchase agreements (including repurchase-to-maturity agreements) and require additional disclosures about transfers of financial assets with contemporaneous agreements that result in the transferor’s retaining risks associated with the transferred financial asset. The Board will deliberate these additional disclosure requirements on a future date.

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