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This excerpt taken from the C 10-K filed Feb 23, 2007. Accounting for Loan Commitments Accounted for as Derivatives On April 1, 2004, the Company adopted the SEC’s Staff Accounting Bulletin 105, “Application of Accounting Principles to Loan Commitments” (SAB 105), which specifies that servicing assets embedded in commitments for loans to be held-for-sale should be recognized only when the servicing asset has been contractually separated from the associated loans by sale or securitization. The impact of implementing SAB 105 across all of the Company’s business was a delay in recognition of $35 million pretax in the 2004 second quarter. This excerpt taken from the C 10-K filed Feb 24, 2006. Accounting for Loan Commitments Accounted for as Derivatives On April 1, 2004, the Company adopted the SEC's Staff Accounting Bulletin No. 105, "Application of Accounting Principles to Loan Commitments" (SAB 105), which specifies that servicing assets embedded in commitments for loans to be held for sale should be recognized only when the servicing asset has been contractually separated from the associated loans by sale or securitization. The impact of implementing SAB 105 across all of the Company's business was a delay in recognition of $35 million pretax in the second quarter of 2004. This excerpt taken from the C 8-K filed Sep 9, 2005. Accounting for Loan Commitments Accounted For As Derivatives
On April 1, 2004, the Company adopted the SEC’s Staff Accounting Bulletin No. 105, “Application of Accounting Principles to Loan Commitments” (SAB 105), which specifies that servicing assets embedded in commitments for loans to be held for sale should be recognized only when the servicing asset has been contractually separated from the associated loans by sale or securitization. The impact of implementing SAB 105 across all of the Company’s
12
businesses was a delay in recognition of $35 million pretax in the second quarter 2004.
This excerpt taken from the C 8-K filed Jun 7, 2005. Accounting for Loan Commitments Accounted For As Derivatives
On April 1, 2004, the Company adopted the SEC’s Staff Accounting Bulletin No. 105, “Application of Accounting Principles to Loan Commitments” (SAB 105), which specifies that servicing assets embedded in commitments for loans to be held for sale should be recognized only when the servicing asset has been contractually separated from the associated loans by sale or securitization. The impact of implementing SAB 105 across all of the Company’s
12
businesses was a delay in recognition of $35 million pretax in the second quarter 2004.
This excerpt taken from the C 10-K filed Feb 28, 2005. Accounting for Loan Commitments Accounted For As Derivatives On April 1, 2004, the Company adopted the SEC's Staff Accounting Bulletin No. 105, "Application of Accounting Principles to Loan Commitments" (SAB 105), which specifies that servicing assets embedded in commitments for loans to be held for sale should be recognized only when the servicing asset has been contractually separated from the associated loans by sale or securitization. The impact of implementing SAB 105 across all of the Company's businesses was a delay in recognition of $35 million pretax in the second quarter 2004. | EXCERPTS ON THIS PAGE:
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