My Oracle Support Banner

RC-C Memo M.6 / HC-C M4: Accrued Interest In Outstanding Credit Card Fees And Finance Charges Logic (Doc ID 2671515.1)

Last updated on MAY 22, 2020

Applies to:

Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.9 and later
Information in this document applies to any platform.

Symptoms

MDRM C391 on FFIEC-031 RC-C M.6 (Y9C H-C M.4) Outstanding credit card fees and finance charges.

Reporting of the amount of fees and finance charges included in the amount of credit card receivables reported in Schedule RC-C, part I, item 6.a (column A on the FFIEC 031; column B on the FFIEC 041) and similar line on HC-C.

Measure for this MDRM is computed as following in OFSAA
 SUM(COALESCE(FCT_CARDS_SUMMARY.N_TOT_FEE_CHGS_RCY,0) + COALESCE(FCT_REG_ACCOUNT_SUMMARY.N_ACCRUED_INTEREST_RCY,0))

Since accrued interest is not getting reported in line item 6a it should be removed from this cell measure clogic. Accrued interest must be reported in Schedule RC-F/HC-F. Also per the instructions, in schedule RC-C/ HC-C only fees and finance charges are to be reported.

Cause

To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!


In this Document
Symptoms
Cause
Solution


My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.