Repo 105 is Lehman Brothers’ name for an accounting maneuver that it used where a short-term repurchase agreement is classified as a sale. Repo 105 was used by investment bank Lehman Brothers three times according to a March 2010 report by the bankruptcy court examiner. Young, were aware of this questionable classification. The report published, cook brothers March 11, 2010, was titled “Lehman Brothers Holdings Inc.
The Examiner in this matter was Anton R. The report details the use of both “repo 105” and “repo 108″ which are identical procedures, the first costing 4. In response to the report, the auditors said that the transactions were accounted for in line with Generally Accepted Accounting Principles. The IASB and FASB, senior bodies responsible for setting accounting standards, met in April 2010 to review the accounting treatment for such repo transactions. Several writers have stated that Repo 105 was essentially a tobashi scheme. Lehman Cooked Books before Collapse, Report Finds. British law firm cleared way for Lehman cover-up”.
Young Settles with New York over Lehman Brothers Repo 105 Deals”. This article is about the rock singer. For the country music singer, see David L. David Cook rocks Front Range concert 160916-F-JY173-013.