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RC-C : Line 8 - Reporting of agriculture purpose Loans For state and political subdivisions (Doc ID 2606992.1)

Last updated on NOVEMBER 11, 2019

Applies to:

Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.8 and later
Information in this document applies to any platform.

Symptoms

Report- FFIEc031/041/FRY9C
Schedule RC-C, HC-C
MDRM code 2017 (line item 8)

8. Obligations (other than securities and leases) of states and political subdivisions in the U.S. 


1) Based on RC-C Line instructions,Line 8 – “Report all obligations of states and political subdivisions in the United States (including overdrafts and obligations secured by real estate), other than leases and obligations reported as securities.”

This means that loans to SG/POLSUB for Agri purposes should also be reported here as there is no such exclusion mentioned for AGRI purpose loans in this line.

However Rule RLUS_FRAS_REG_PROD_CLASS_15 (used for Line 8 related reg prod reclassification) uses the filter NOT AGP filtering such records out and not get reported to any other line either.

2) Further : Based on RC-C Line instructions, line 3 clearly states to exclude loans secured by real estate - “Exclude from loans to finance agricultural production and other loans to farmers: (1) Loans that meet the definition of a “loan secured by real estate” (report in Schedule RC-C, part I, item 1).” Line 1 clearly states to exclude loans to political subdivisions – “Exclude from loans secured by real estate: (cont.) (1) Obligations (other than securities and leases) of states and political subdivisions in the U.S. that are secured by real estate (report in Schedule RC-C, part I, item 8).”

Thus for such SG/POLSUB loans that have purpose as AGP and are backed by Real estate will infact not reported anywhere (as will get excluded from Line 3 as well as line 1 and also line 8) due to existing configuration.

Changes

 This is a product configuration issue

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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