Statements of Position

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Description

This Statement provides guidance on accounting for sales and purchases of or borrowing of funds through Government National Mortgage Association (GNMA) pass-through certificates and Federal Home Loan Mortgage Corporation (FHLMC) participation certificates under fixed coupon and yield maintenance dollar agreements. It also describes the accounting for rollovers and extensions of original agreements, and the repurchase of a principal amount different from the principal amount of the original agreement. The conclusions state that fixed coupon dollar agreements should be accounted for as collateralized borrowing arrangements, while yield maintenance dollar agreements should be accounted for as sales and purchases of securities.

ISBN

ed82-04-14t

Publication Date

1982

Relational Format

Book

Keywords

Savings and loan associations -- United States -- Accounting

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 1982, Apr. 14

Proposed statement of position : accounting for dollar repurchase, dollar reverse repurchase agreements by sellers-borrowers ;Accounting for dollar repurchase, dollar reverse repurchase agreements by sellers-borrowers

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