What percentage of a change in control triggers push-down accounting?
And how is push-down accounting reported on the TFR? Answer: SEC Staff Accounting Bulletin (SAB) No. 54, issued in 1983, requires push-down accounting when the acquired company has become substantially wholly-owned. SEC staff has stated that the threshold for substantially wholly-owned should be at a control level of 95%. Accordingly, with certain limited exceptions, SEC has stated that push-down accounting should be required at 95% or more control, and push-down accounting should be permitted at 80% to 95% control. In general, the OTS and the other Federal Banking Agencies follow the SEC guidance regarding push-down accounting. For the acquisition of a savings association by a holding company, the accounting for business combinations requires that, at the date of acqusition, the holding companys consolidated financial statements include the subsidiary savings associations assets and liabilities at fair value. When push-down accounting is applied, at the date of acqusition, the savings
