|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the EBAY 10-K filed Feb 17, 2010. Customer accounts Based on differences in regulatory requirements and commercial law in the jurisdictions where PayPal operates, PayPal holds customer balances either as direct claims against PayPal or as an agent or custodian on behalf of PayPal’s customers. Customer balances held as direct claims against PayPal are included on our consolidated balance sheet as funds receivable and customer accounts with an offsetting current liability in funds payable and amounts due to customers. We maintain these customer account balances in interest bearing bank deposits (including time deposits with maturity dates of less than one year). Customer funds held by PayPal as an agent or custodian on behalf of our customers are not reflected in our consolidated balance sheet. These off-balance sheet funds totaled approximately $1.9 billion and $2.2 billion as of December 31, 2008 and 2009, respectively. These off-balance sheet funds include funds held in the U.S. that are deposited in bank accounts insured by the Federal Deposit Insurance Corporation and funds that customers choose to invest in the PayPal Money Market Fund. The PayPal Money Market Fund is invested in a portfolio managed by BlackRock Fund Advisors.
89
Table of ContentseBay Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
These excerpts taken from the EBAY 10-K filed Feb 20, 2009. Customer
accounts
Based on differences in regulatory requirements and commercial
law in the jurisdictions where PayPal operates, PayPal holds
customer balances either as direct claims against PayPal or as
an agent or custodian on behalf of PayPal’s customers.
Customer balances held as direct claims against PayPal are
included on our consolidated balance sheet as funds receivable
and customer accounts with an offsetting current liability in
funds payable and amounts due to customers. The customer
balances can be invested only in specified types of liquid
assets.
Customer funds held by PayPal as an agent or custodian on behalf
of our customers are not reflected in our consolidated balance
sheet. These off-balance sheet funds totaled approximately
$1.8 billion and $1.9 billion as of December 31,
2007 and 2008, respectively. These off-balance sheet funds
include funds held in the U.S. that are deposited in bank
accounts insured by the Federal Deposit Insurance Corporation
and funds that customers choose to invest in the PayPal Money
Market Fund. The PayPal Money Market Fund is invested in a
portfolio managed by Barclays Global Fund Advisors.
Customer accounts Based on differences in regulatory requirements and commercial law in the jurisdictions where PayPal operates, PayPal holds customer balances either as direct claims against PayPal or as an agent or custodian on behalf of PayPal’s customers. Customer balances held as direct claims against PayPal are included on our consolidated balance sheet as funds receivable and customer accounts with an offsetting current liability in funds payable and amounts due to customers. The customer balances can be invested only in specified types of liquid assets. Customer funds held by PayPal as an agent or custodian on behalf of our customers are not reflected in our consolidated balance sheet. These off-balance sheet funds totaled approximately $1.8 billion and $1.9 billion as of December 31, 2007 and 2008, respectively. These off-balance sheet funds include funds held in the U.S. that are deposited in bank accounts insured by the Federal Deposit Insurance Corporation and funds that customers choose to invest in the PayPal Money Market Fund. The PayPal Money Market Fund is invested in a portfolio managed by Barclays Global Fund Advisors. These excerpts taken from the EBAY 10-K filed Feb 29, 2008. Customer
accounts
Based on differences in regulatory requirements and commercial
law in the jurisdictions where PayPal operates, PayPal holds
customer balances either as direct claims against PayPal or as
an agent or custodian on behalf of PayPal’s customers.
Customer balances held as direct claims against PayPal are
included on our consolidated balance sheet as customer accounts
with an offsetting current liability in funds payable and
amounts due to customers. The customer accounts can be invested
only in specified types of liquid assets.
All customer funds held by PayPal as an agent or custodian on
behalf of our customers are not reflected in our consolidated
balance sheet. These off-balance sheet funds totaled
approximately $1.5 billion and $1.8 billion as of
December 31, 2006 and 2007, respectively. These off-balance
sheet funds include funds held in the U.S. that are
deposited in bank accounts insured by the Federal Deposit
Insurance Corporation and funds that customers choose to invest
in the PayPal Money Market Fund. The PayPal Money Market Fund is
invested in a portfolio managed by Barclays Global
Fund Advisors.
Customer accounts Based on differences in regulatory requirements and commercial law in the jurisdictions where PayPal operates, PayPal holds customer balances either as direct claims against PayPal or as an agent or custodian on behalf of PayPal’s customers. Customer balances held as direct claims against PayPal are included on our consolidated balance sheet as customer accounts with an offsetting current liability in funds payable and amounts due to customers. The customer accounts can be invested only in specified types of liquid assets. All customer funds held by PayPal as an agent or custodian on behalf of our customers are not reflected in our consolidated balance sheet. These off-balance sheet funds totaled approximately $1.5 billion and $1.8 billion as of December 31, 2006 and 2007, respectively. These off-balance sheet funds include funds held in the U.S. that are deposited in bank accounts insured by the Federal Deposit Insurance Corporation and funds that customers choose to invest in the PayPal Money Market Fund. The PayPal Money Market Fund is invested in a portfolio managed by Barclays Global Fund Advisors. This excerpt taken from the EBAY 10-K filed Feb 28, 2007. Customer
accounts
Based on differences in regulatory requirements and commercial
law in the jurisdictions where PayPal operates, PayPal holds
customer balances either as direct claims against PayPal or as
an agent or custodian on behalf of PayPal’s customers.
Customer balances held as direct claims against PayPal are
included on our consolidated balance sheet as customer accounts
with an offsetting current liability in funds payable and
amounts due to customers. The customer accounts can be invested
only in specified types of liquid assets. Customer accounts on
our consolidated balance sheet as of December 31, 2006
included approximately $180 million from direct
non-custodial customer relationships established in conjunction
with PayPal’s Asia Pacific headquarters during 2006.
All customer funds held by PayPal as an agent or custodian on
behalf of our customers are not reflected in our consolidated
balance sheet. These off-balance sheet funds total approximately
$1.2 billion and $1.5 billion as of December 31,
2005 and 2006, respectively. These off-balance sheet funds
include funds held in the U.S. that are deposited in bank
accounts insured by the Federal Deposit Insurance Corporation
and funds that customers choose to invest in PayPal’s Money
Market Fund.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for EBAY: |
| |||||||
