Usage of 'AMOUNT' column for reporting 'NUMBER of ACCOUNTS' is inappropriate (Report- FFIEC 031/041, Schedule - RC-M, MDRM codes - RCONN523 and RCONN527)
(Doc ID 2600124.1)
Last updated on OCTOBER 23, 2019
Applies to:Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.6 and later
Information in this document applies to any platform.
Report : FFIEC031 and FFIEC041
Schedule : RC-M
MDRM codes impacted: RCONN523, RCONN527
Line item definition-
d. Estimated number and dollar value of international remittance transfers provided by your institution during the two calendar quarters ending on the report date:
RCONN523 d.(1) Estimated number of international remittance transfers
RCONN527 d.(3) Estimated number of international remittance transfers for which your institution applied the temporary exception
ISSUE- Line items definition says to report the "number of accounts applicable for international remittance transfers". But the measure used for reporting these items is 'AMOUNT' column 'FCT_MGMT_REPORTING.N_EOP_BAL_RCY'
This is a product configuration issue
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