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Handbook: Transfers and servicing of financial assets

Handbooks | March 2022

Latest edition: KPMG in-depth guide to accounting for transfers and servicing of financial assets under ASC 860.

Our 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.

We want to help you make those critical judgments.

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 the document:

Transfers and servicing of financial assets

Download PDF

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