Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The accounting test that decides whether transferred assets leave the balance sheet: have substantially all the risks and rewards passed to the buyer?
One question with two entirely different sets of financial statements behind it. Yes, and the loans go and a gain is booked now; no, and they stay and the cash received is a borrowing.
The present value of the excess interest spread on a sold loan pool, recognised in income at the moment a transfer qualifies to come off the balance sheet.
Future interest brought into this quarter. It does not repeat unless another pool is sold, and it rests on disclosed assumptions about prepayment and default that reduce the spread actually collected.