US GAAP Transfers and servicing of financial assets

KPMG’s in-depth guide explains how to account for transfers of financial assets, using Q&As and examples to address common questions and transactions we see in practice. This edition includes new interpretations related to a transfer of a portion of an equity share.


  • All entities with transfers of financial assets

Relevant dates

  • Effective immediately

Key impacts

An established model and evolving transactions

In the decades since the FASB first developed its guidance on transfers of financial assets, the capital markets – and the types of transfers that take place in them – have continued to evolve.

The accounting guidance has evolved as well, although the core principles have remained intact: a transaction is recognized as a sale when a financial asset has been transferred and control has been surrendered; and following a sale, a company measures both the benefits it controls and the resulting obligations.

This model is well-established, but the continued evolution of transactions involving transfers of financial assets often pushes the profession to make critical judgments about the application of the guidance.

Report contents

  • Scope
  • Sale criteria: Overview
  • Sale criterion: Legal isolation
  • Sale criterion: Actual control
  • Sale criterion: Effective control
  • Sales
  • Secured borrowings
  • Special topics
  • Servicing assets and liabilities
  • Disclosures

Download from KPMG FRV

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