Status of Statement No. 125

Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities

Status

Issued: June 1996
 

Effective Date:
For transfers and servicing of financial assets and extinguishments of liabilities occurring after December 31, 1996

 

Affects:
Replaces APB 26, paragraph 3(a)
Amends FAS 13, paragraph 20
Amends FAS 22, footnote 1
Amends FAS 65, paragraphs 1, 6, 9(a), 10, 15, and 34
Deletes FAS 65, paragraphs 8, 11, 16 through 19, 30 and the paragraphs added by FAS 122, and footnotes 4 and 6
Supersedes FAS 76
Supersedes FAS 77
Replaces FAS 105, paragraph 14(e)
Replaces FAS 107, paragraph 8(b)
Amends FAS 107, paragraph 28
Amends FAS 115, paragraph 7
Supersedes FAS 122
Supersedes FTB 84-4
Supersedes FTB 85-2
Replaces FTB 86-2, paragraph 12
Deletes FTB 87-3, paragraphs 1 through 7
Replaces FTB 87-3, paragraph 9

 

Affected by:
Paragraphs 4, 14, 31, and 243 amended by FAS 133, paragraph 536
Paragraph 19 replaced by FAS 127, paragraph 5
Superseded by FAS 140, paragraph 350

 

Other Interpretive Release:
FASB Special Report, A Guide to Implementation of Statement 125 on Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities: Questions and Answers (third edition) (nullified by FAS 140)
Affects:
Nullifies EITF Issues No. 85-40, 86-24, 86-39, 89-2, 92-10, and 94-9 and Topics No. D-13 and D-48
Partially nullifies EITF Issues No. 84-5, 85-25, 86-18, 86-38, 87-30, 88-11, 88-17, 88-22, 89-4, 90-2, 92-2, and 96-10
Resolves EITF Issues No. 84-21, 84-26, 85-26, 85-30, 85-34, 87-18, 87-25, and 94-4
Partially resolves EITF Issues No. 84-20 and 87-20 and Topic No. D-14

 


Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides