RC-C Memorandum Line Items - Configuration Required For 'Non CONLOANCREDCARD' Fixed Rate Cards
(Doc ID 2724471.1)
Last updated on NOVEMBER 02, 2020
Applies to:
Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.9 and laterInformation in this document applies to any platform.
Symptoms
RRS 80951
Report- FFIEC031,041
Schedule- RC-C
cell A572
Memoranda Line item instructions, “Fixed rate “Credit cards” and “Other revolving credit plans" are considered to have a remaining maturity of over one year through three years and should be reported in Memorandum item 2.b.(3), regardless of the actual maturity experience or expectation”.
As part of 80951 configuration, fixed rate credit cards including float to fixed, per Lineage, will get reported in Memo item 2.b.(3) only if they are reclassified as CONLOANCREDCARD. However, the Small Business Loans, which are eventually cards will not get re-classified into this Reg product CONLOANCREDCARD category resulting in them falling out of this logic on DE side.
Issue - All fixed rate cards should be reported to 2.b.(3) irrespective of their reg product classification code.
Changes
NA
Cause
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