Use Of Stg_investments.n_mkt_value - Incorrect As Per FRY 14Q Sch B1 And B2
(Doc ID 2809844.1)
Last updated on OCTOBER 03, 2021
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.
FRY14Q, B1 and B2
Sch B1 , CELL ID : CQSCP088 Market Value(USD Equivalent)
Sch B2, CELL ID : CQSHP088 Market Value(USD Equivalent)
As per the FRY 14 Q, Sch B1 and B2 instructions , page 53, which states as follows :
Market Value (USD Equivalent): In general, market value is “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” For further information, refer to ASC Topic 820, Fair Value Measurements and Disclosures (formerly FASB Statement No. 157, Fair Value Measurements) and the FR Y-9C glossary entry for “fair value.”
As per the current logic it is referring to Stg_Invstments.N_MKT_VALUE which is incorrect.
According to FRY 9C Glossary for FAIR VALUE (Page 384) , N_MKT_VALUE should not be used from STG_INVESTMENTS for these cell ids..Instead it should flow from FCT_IFRS_ACCOUNT_SUMMARY.N_FAIR_VALUE_RCY which is as per instructions.
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