SFAS 140 definition

SFAS 140 means Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities.
Sample 1Sample 2Sample 3
SFAS 140. Statement of Financial Accounting Standard No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities dated September 2000, published by the Financial Accounting Standards Board of the Financial Accounting Foundation.
Sample 1Sample 2Sample 3
SFAS 140. Statement of Accounting Standards No. 140 of the Financial Accounting Standards Board, as in effect as the date hereof.
Sample 1Sample 2Sample 3

Examples of SFAS 140 in a sentence

  • Based on the terms of the FRBNY dollar roll transactions, transfers of MBS upon settlement of the initial TBA MBS transactions are accounted for as purchases or sales in accordance with FASB ASC Topic 860 (ASC 860), Accounting for Transfers of Financial Assets and Repurchase Financing Transactions, (previously SFAS 140), and the related outstanding commitments are accounted for as sales or purchases upon settlement.

  • See SFAS 140 ¶ 100 (“Repurchase agreements that do not meet all the criteria in paragraph 9 shall be treated as secured borrowings.”).

  • If the Repo 105 transaction technically qualified for true sale accounting under SFAS 140, Lehman was not required for accounting purposes to record a liability, although the economic reality was that Lehman had borrowed cash it had to repay.

  • Enron analogized that, in an SFAS 140 transaction, it could sell its Fishtail interests to an SPE, while continuing to exercise control over its pulp and paper trading business even after the sale.

  • Enron engaged in numerous transactions under SFAS 140 and its predecessor SFAS 125, collectively involving more than $1 billion.

  • For example, a financing company that routinely issues and acquires car loans may continue to manage and collect payments on these car loans even after pooling them and selling the rights to the cash flow to an SPE in an SFAS 140 transaction.

  • Unlike other asset sales, SFAS 140 has been interpreted to allow the seller of the financial asset to retain a significant degree of control over the asset, even after its securitization and transfer to the SPE.

  • The boilerplate contract used in Repo 105 transactions – the GMRA – could also be used in ordinary repo transactions.3001 SFAS 140 ¶ 218.

  • Accounting Standards Bd. 2000) (“SFAS 140”).2996 SFAS 140, ¶¶ 47‐49, 217‐218.2997 SFAS 140, ¶ 217 (emphasis in original).2998 SFAS 140, ¶ 218.2999 Id. (emphasis in original).

  • SFAS 140, ‘‘Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities,’’ is a statement of accounting standards issued by the Financial Accounting Stand- ards Board (FASB), an organization designated by the Securities and Exchange Commission (SEC) to develop, promulgate, and interpret generally accepted accounting principles for U.S. business.


More Definitions of SFAS 140

SFAS 140. Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities dated September 2000, published by the Financial Standards Accounting Board of the Financial Accounting Foundation. SELLER: CMMC. SERVICER: CMMC or any successor under this Agreement as herein provided.
Sample 1Sample 2Sample 3
SFAS 140 has the meaning specified in the Transfer and Servicing Agreement.
Sample 1Sample 2Sample 3

Related to SFAS 140

  • FASB means the Financial Accounting Standards Board.

  • Treasury Regulations means regulations, including proposed or temporary regulations, promulgated under the Code. References herein to specific provisions of proposed or temporary regulations shall include analogous provisions of final Treasury Regulations or other successor Treasury Regulations.

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

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

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

  • Short-Term Investments means short-term investments as defined by GAAP.

  • Code Section 409A means section 409A of the Internal Revenue Code and the regulations thereunder.

  • 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.

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

  • 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.

  • Rule 17f-7 means Rule 17f-7 promulgated under the 1940 Act.

  • Rule 701 means Rule 701 promulgated under the Securities Act.

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

  • Qualified interpreter means an interpreter who, via a video remote interpreting (VRI) service or an on-site appearance, is able to interpret effectively, accurately, and impartially, both receptively and expressively, using any necessary specialized vocabulary. Qualified interpreters include, for example, sign language interpreters, oral transliterators, and cued-language transliterators. 28 C.F.R. § 36.

  • Tax Regulations means the regulations passed under the Tax Act, as amended from time to time. “Transfer Agent” means TSX Trust Company, the transfer agent and registrar for the Units.

  • Section 409A means Section 409A of the Code and the regulations and other guidance promulgated thereunder.

  • Rule 158 “Rule 163”, “Rule 164”, “Rule 172”, “Rule 405”, “Rule 415”, “Rule 424”, “Rule 430B” and “Rule 433” refer to such rules under the Act.

  • Exempt in reference to a case means a case designated as involving exceptional circumstances under CRC 3.714.

  • Short Term Loan means a loan transfer for a period of no fewer than 28 days in any one season.

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

  • 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.

  • Accounting Standard means GAAP.

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

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);