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.
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.
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