Guidance On Product Code To Be Used For NOW Accounts
(Doc ID 2825619.1)
Last updated on DECEMBER 05, 2021
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.
Mapping “NOW” accounts with Prod code = “DEMANDDEP” and this is creating variances in RC-E 7.b MDRMs and HC-E 1.b as Demand Deposit definition carves out NOW account.
NOW accounts are expected to be mapped to standard product type =”CA” and not standard Product type=”DEMANDDEP”.
Impacted Report/ Schedule/ MDRMs as identified by Wells:
• RC-E MDRM: RCON 2210, line item 7B
• RC-O, MDRM: RCFDF236, line item: RCO-1
• FRY 9C, HC MDRM: BHCB3187
Do let us know when configuration updates to support this would be available?
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