Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

Micro Data Reference Manual

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METHOD OF CALCULATION (QTFL)

Call confidentiality applies to FFIEC 031/041.

Series	Start Date	End Date	Confidential?	Reporting Forms
QTFL1598	1977-02-07	1989-05-01	Yes	FR 2028b/s

Data Description:

A one digit code indicating the method used to calculate interest.

"Discount" applies when the proceeds credited to the borrower are the face amount less the interest based on the face amount to be paid at maturity.

"Remaining balance" applies when the interest for any period is charged on the outstanding balance of the loan during that period.

1 = Discount

2 = Add on

3 = Remaining balance

"Add on" applies when the borrower repays the face amount plus interest calculated on the face amount for the full period until maturity.

Last update: Apr 23, 2024