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FFIEC031, RC-O, Memoranda 13- Issue identified in reporting 'Guaranteed' amount (Doc ID 2606983.1)

Last updated on NOVEMBER 11, 2019

Applies to:

Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.7 and later
Information in this document applies to any platform.

Symptoms

Report-FFIEC031
Schedule- RC-O Memoranda
Line item 13
Impacted MDRMs: RCFDN177,RCFDN178,RCFDN179,RCFDN180,RCFDN181, RCFDN182,RCFDN183, RCFDM963

The OFSAA logic is to accept all loans in the dataset that have an F_GUAR_BY_SOVERIGN_IND of "Y", and then sum the "N_GUARANTEED_AMT" field to populate the various MDRMs by product type.

Dataset DSRCO002 (DS-RC-O-Common Account Summary)
measure-FCT_COMMON_ACCOUNT_SUMMARY N_GUARANTEED_AMT

Observation: Description of STG_LOAN_CONTRACTS.N_GUARANTEED_AMT indicates that the guarantee 'total' be sourced into this column. The issue in this logic is that STG_LOAN_CONTRACTS.N_GUARANTEED_AMT is a generic amount column for all guarantees. In reality, there could be multiple guarantors, some of which maybe the U.S. Government (that is required to be reported on these MDRMs) while other guarantors and their corresponding guarantee amount may be those other than the U.S. Government (and therefore not required to be reported on these MDRMs).

Hence a logic that allows sourcing via the Mitigant table (for guarantees) and links via Account Mitigant Mapping those mitigants that represent the U.S. Government (or any other design that allows multiple mitigants to be sourced) can meet the requirements.

Changes

 This is a product configuration issue

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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