In-substance debt defeasance

In-substance debt defeasance

A loan provision that removes it from the balance sheet of cash is set to the side for debt service. Defeasance typically happens when a borrower owns a portfolio of Treasury securities where coupons are used to service a debt. If the borrower set aside enough assets to cover the debt obligation, the debt will not need to be listed on a balance sheet.

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Industry/Domain: Accounting
Category: Auditing
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