The lender, On the flip side, need to identify the collateral as an asset at first. The lender must evaluate the asset at honest benefit. No, the transaction falls outdoors the scope of ASC 860. The counterparty (belief) could be the issuer with the certificates surrendered by the reporting entity, https://griffinuzeji.verybigblog.com/35302193/the-2-minute-rule-for-860-cash