Incorrect Use of CollateralAxis with Repurchase Agreement and Securities Loaned Concepts

Rule ID: DQC.US.0235.10931, DQC.US.0235.10932
Status: Final
Release date: June 29, 2026
Effective date: September 1, 2026

Rule Function

Purpose:

The purpose of Rule DQC.US.0235 is to ensure that filers do not use the CollateralAxis with gross repurchase agreement and securities loaned concepts. These concepts represent gross obligations that should be disaggregated by class of collateral pledged using CollateralPledgedInSecuredBorrowingAxis, not CollateralAxis. Using the wrong axis creates ambiguity about the nature of the collateral breakdown and is inconsistent with the taxonomy's intended hierarchy for secured borrowing disclosures.

The second part of the rule checks for the use of PledgedStatusAxis with these concepts, which is also inappropriate as it does not convey the necessary detail about the collateral type. The filer should be using CollateralPledgedInSecuredBorrowingAxis to disaggregate the gross obligation by class of collateral pledged, rather than PledgedStatusAxis.

Conditions:

Both assertions (10931 and 10932) flag any fact for either of the following concepts when tagged with any member on CollateralAxis or PledgedStatusAxis:

FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement
SecuritiesLoanedIncludingNotSubjectToMasterNettingArrangementAndAssetsOtherThanSecuritiesTransferred

The rule applies regardless of the member value used on CollateralAxis or PledgedStatusAxis.

Problem Solved by the Rule

Repurchase agreements and securities lending transactions require detailed disclosures about the collateral pledged to secure the obligations. The US GAAP taxonomy provides CollateralPledgedInSecuredBorrowingAxis and CollateralPledgedInSecuredBorrowingAxis specifically for disaggregating gross secured borrowing obligations by the class of collateral involved. Using the more generic CollateralAxis and PledgedStatusAxis with these conceptswill produce an error.

Example Rule Message

The filer has reported a fact value for the concept FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement of 250000000 with the CollateralAxis. This axis should not be used with this concept. The CollateralPledgedInSecuredBorrowingAxis should be used for disaggregation of the gross obligation by class of collateral pledged.

Concept: FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement
Value: 250000000
Period: 2024-12-31
Dimensions: CollateralAxis=USTreasurySecuritiesMember

Rule Element Id: 10931
Rule version: 29.0.0RC1

Rule element ID index

The rule element ID is used to identify unique elements or combinations of elements tested in the rule.

Rule Element ID	Element
DQC.US.0235.10931	FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement or SecuritiesLoanedIncludingNotSubjectToMasterNettingArrangementAndAssetsOtherThanSecuritiesTransferred concepts tagged with CollateralAxis
DQC.US.0235.10932	FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement or SecuritiesLoanedIncludingNotSubjectToMasterNettingArrangementAndAssetsOtherThanSecuritiesTransferred concepts tagged with PledgedStatusAxis

Technical Details

Both assertions (10931, 10932) retrieve any fact for the two monitored concepts (FinancialAssetsSoldUnderAgreementsToRepurchaseGrossIncludingNotSubjectToMasterNettingArrangement and SecuritiesLoanedIncludingNotSubjectToMasterNettingArrangementAndAssetsOtherThanSecuritiesTransferred) that carry any member on CollateralAxis or PledgedStatusAxis. If such a fact exists, the assertion evaluates as true (error).

Filers should replace CollateralAxis with CollateralPledgedInSecuredBorrowingAxis and PledgedStatusAxis with PledgedStatusInSecuredBorrowingAxis when disaggregating these gross secured borrowing obligation concepts by collateral class and pledged status.