The Financial Accounting Standards Board has released a new accounting standard to address some of the problems with financial reporting on repurchase agreements, such as those that contributed to the demise of MF Global.
Accounting Standards Update No. 2014-10, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures, changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires enhanced disclosures about repurchase agreements and other similar transactions.
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