Summary of Statement No. 104

Statement of Cash Flows—Net Reporting of Certain Cash Receipts and Cash Payments and Classification of Cash Flows from Hedging Transactions—an amendment of FASB Statement No. 95 (Issued 12/89)


This Statement amends FASB Statement No. 95, Statement of Cash Flows, to permit banks, savings institutions, and credit unions to report in a statement of cash flows certain net cash receipts and cash payments for (a) deposits placed with other financial institutions and withdrawals of deposits, (b) time deposits accepted and repayments of deposits, and (c) loans made to customers and principal collections of loans.

This Statement also amends Statement 95 to permit cash flows resulting from futures contracts, forward contracts, option contracts, or swap contracts that are accounted for as hedges of identifiable transactions or events to be classified in the same category as the cash flows from the items being hedged provided that accounting policy is disclosed.

This Statement is effective for annual financial statements for fiscal years ending after June 15, 1990, with earlier application permitted. Separate early adoption of either the netting or hedging provisions is permitted. If the provisions of this Statement are elected, restatement or reclassification of comparative amounts in financial statements for earlier periods is required.