FAS 140 definition

FAS 140 means Financial Accounting Standards Board Statement No. 140 or any Statement replacing the same, in each case as amended, modified or supplemented from time to time.
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FAS 140. The Statement of Financial Accounting Standards No. 140 issued by the Financial Accounting Standards Board, dated September 2000.
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FAS 140. Statement of Financial Accounting Standards No. 140.
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Examples of FAS 140 in a sentence

  • The Trustee shall have no obligation to determine whether or not any derivative financial instrument complies with FAS 140.

  • For so long as required under FAS 140, each Trust upon its creation is intended to be considered a “qualifying special purpose entity” under accounting principles generally accepted in the United States.

  • The Owner Trustee is hereby authorized to engage in the foregoing activities; provided, however, that neither the Owner Trustee nor officers of the Owner Trustee on behalf of the Trust shall have or exercise any powers not permitted of "Qualifying SPEs" (within the meaning of the Statement of Financial Accounting Standard No. 140 ("FAS 140")) under FAS 140 or any successor accounting standard thereto.

  • This definition of Transferor will be interpreted in a manner consistent with the requirements of FAS 140 and any other relevant authoritative accounting literature, as such requirements are applicable from time to time.

  • Notwithstanding the foregoing, the provisions in Section 3.10(b) shall not be amended, changed, altered or repeated so as to permit the Owner Trustee to change the permitted activities of the Trust set forth in Section II.3 of the Trust Agreement in a manner that would cause the Trust to cease to qualify as a "Qualifying SPE" under FAS 140 or any successor accounting standard thereto.

  • Because no U.S. firm would provide the opinion under U.S. law, there was no basis in FAS 140 for recording the transactions as sales, nor was there legitimate business or economic substance behind channeling the Repo 105 transactions through the United Kingdom.

  • The Financial Accounting Standards Board amended FAS 140 to eliminate the notion of a QSPE.

  • If a securi- tization transaction meets FAS 140 sale or servicing criteria, the seller must recognize any gain or loss on the sale of the pool immediately and carry any retained interests in the assets sold (including servicing rights/ obligations and interest-only strips) at fair value.

  • Id. FAS 166 recently superseded FAS 140, discussed further in the Postcript.

  • Standard Markets' underwriting results declined $43.4 million to an underwriting loss of $58.1 million for the year ended December 31, 2000, compared to an underwriting loss of $14.7 million in 1999.


More Definitions of FAS 140

FAS 140 means Statement No. 140 of the Financial Accounting Standards Board.
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FAS 140 has the meaning specified in Section 3.11.
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FAS 140 means Statement of Financial Accounting Standards No. 140.
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FAS 140 means Statement 140 on Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities promulgated by the Financial Accounting Standard Board, as the same may be restated, modified or changed from time to time.
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FAS 140. Financial Accounting Standards Board Statement No. 140 or any Statement replacing the same, in each case as amended, modified or supplemented from time to time.
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Related to FAS 140

  • SFAS 140 means Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.

  • FASB means the Financial Accounting Standards Board.

  • Accounting Standards means the standards of accounting or any addendum thereto for companies or class of companies referred to in section 133;

  • Accounting Standard means GAAP.

  • ASC Topic 718 means the Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation, as amended or any successor accounting standard.

  • FAS means Free alongside shipment

  • Treasury Regulations means the regulations promulgated under the Code.

  • Rule 15c2-12 means Rule 15c2-12 under the Securities Exchange Act of 1934, as amended through the date of this Undertaking, including any official interpretations thereof.

  • Australian Accounting Standards means the accounting standards made by the Australian Accounting Standards Board in accordance with section 227 of the Australian Securities and Investments Commission Act 2001 (Cth).

  • U.S. Treasury Regulations means the Treasury regulations of the Code. Reference to a specific Treasury Regulation or Section of the Code shall include such Treasury Regulation or Section, any valid regulation promulgated under such Section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such Section or regulation.

  • Rule 173 “Rule 405”, “Rule 415”, “Rule 424”, “Rule 430B” and “Rule 433” refer to such rules under the Act.

  • IRC means the Internal Revenue Code of 1986, as amended.

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • Code Section 409A means Section 409A of the Code and all regulations issued thereunder and applicable guidance thereto.

  • Income Tax Act means the Income Tax Act (Canada), as amended from time to time;

  • Treasury Regulation means the United States Treasury regulations promulgated under the Code.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • Pro Forma means producing a balance sheet that reflects a reasonably accurate financial statement of the Failed bank through the date of closing. The pro forma financial statements serve as a basis for the opening entries of both the Assuming Institution and the Receiver.

  • the Code means the Pension Regulator’s Code of Practice No 14 governance and administration of public service pension schemes.

  • Rule 3a-7 means Rule 3a-7 under the Investment Company Act.

  • Guidance means any guidance issued or updated by the UK Government from time to time in relation to the Regulations;

  • Rule 16b-3 means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan.

  • Underwriting Standards As to each Mortgage Loan, the Seller's underwriting guidelines in effect as of the date of origination of such Mortgage Loan.

  • Rule 3a-5 means Rule 3a-5 under the Investment Company Act.

  • auditing standards means auditing standards as defined in National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards;