financial reporting of repurchase agreements

FASB Update on Repo Reporting

On April 29, FASB issued an Accounting Standards Update on financial reporting of repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. The update removes from the assessment of effective control the requirement that the transferor have the ability to repurchase or redeem the financial assets. FASB Release.