Data Dictionary
Item Number 1599
RATE OVER LIFE OF LOAN (QTFL)Call confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| QTFL1599 | 1977-02-07 | 1997-02-03 | Yes | FR 2028b/s |
Data Description:
A one-digit code indicating type of interest rate charged over the life of the loan.
"Floating" applies when the rate is tied to some other rate (such as the prime rate or a market interest rate) and neither the bank nor the borrower knows the exact rate of interest to be charged over the life of the loan.
"Predetermined" applies when both the bank and the borrower know the exact rate of interest to be charged over the life of the loan. "Predetermined" is not used if at anytime during the life of the loan the rate is floating.
1 = Floating
2 = Predetermined