Reciprocal Balances Reporting In RC-E , Part I (FFIEC031,041)
(Doc ID 2677970.1)
Last updated on JUNE 10, 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.
REG REP USFED 184.108.40.206.0
RC-E, Part I Reciprocal Balances reporting
Reciprocal Balances: "Reciprocal balances arise when two depository institutions maintain deposit accounts with each other, that is when a subsidiary bank of the consolidated holding company has both a due to and due from balance with another depository institution. For purposes of the FR Y-9C, reciprocal balances between subsidiaries of the reporting holding company and unrelated banks should be reported in accordance with generally accepted accounting principles. GAAP permits financial institutions to net reciprocal balances where the right of offset exists."
In current configuration, the netting of reciprocal balances is being restricted only to reciprocal deposits. Both reciprocal deposits and reciprocal balances are different concepts and should not be linked together.
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