Data Dictionary
Item Number 3375
STANDBY LETTERS OF CREDIT AND FOREIGN OFFICE GUARANTEESCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| BHCK3375 | 1986-06-30 | 1995-12-31 | No | FR Y-9C |
| RCF03375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF13375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF23375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF33375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF43375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF53375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF63375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF73375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF83375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCF93375 | 1990-03-31 | 9999-12-31 | Yes | FR 2886b |
| RCFD3375 | 1973-12-31 | 1989-12-31 | No | Multiple Forms |
| RCFD3375 | 1990-03-31 | 9999-12-31 | No | Multiple Forms |
| RCFN3375 | 1978-12-31 | 1989-12-31 | No | Multiple Forms |
| RCON3375 | 1973-12-31 | 9999-12-31 | No | Multiple Forms |
| SUBC3375 | 1973-12-31 | 1990-12-31 | No | Multiple Forms |
Data Description:
The amount outstanding and unused as of the report date of all standby letters of credit (and all legally binding commitments to issue standby letters of credit) issued by the reporting entity. Also includes all guarantees issued by foreign offices of the reporting bank in the form of standby letters of credit pursuant to Federal Reserve Regulation K or Section 347.3(c)(1) of the FDIC Rules and Regulations.
Originating banks must report in item 3376 the full amount outstanding and unused of standby letters of credit in which participations have been conveyed to others where (a) the originating and issuing bank is obligated to pay the full amount of any draft drawn under the terms of the standby letter of credit and (b) the participating banks have an obligation to partially or wholly reimburse the originating bank, either directly in cash or through a participation in a loan to the account party.
Originating banks also must report the amount of standby letters of credit conveyed to others through participation in item 3377. Banks participating in such arrangements must report in item 3376 the full amount of their contingent liabilities to participate in such standby letters of credit without deducting any amounts that they may have reparticipated to others. Participating banks also must report the amount of interest in such transactions they have reparticipated to others, if any, in 3377.
For a standby letter of credit that is in turn backed by a standby letter of credit issued by another bank, each bank must report the entire amount of the standby letter of credit it has issued in item 3376. The amount of the reporting bank's standby letter of credit that is backed by the other bank's standby letter of credit is included in item 3377 since the backing of standby letters of credit has substantially the same effect as the conveying of participations in standby letters of credit.
NOTE:
Reported on Schedule L for the FFIEC 002 report. Also excludes all transactions with related depository institutions.
Reported on Schedule L for the 2886b.
COMPARABILITY:
Reported as a separate item for the FFIEC 002, FR 2886A and FR 2886B reports.
Beginning 3/31/94, reported in Schedule J, by all banking Edge corporations and all banking agreement corporations that have branch offices (RCF0 thru RCF9), for the FR 2886B report.
Prior to 12/31/89, reported as a derived item for the FFIEC 031, 032, and 033 reports which includes the sum of items 3376 and 3377.
Beginning 3/31/86, no longer an item for the FR Y-9C (BHCK) report. Reported as a derived item on the archival file for the period of June 30, 1986. Thereafter, the archival file does not carry derived items.
In the case of a syndicated standby letter of credit where each bank has a direct obligation to the beneficiary, each bank reports only its share of the syndication. Similarly, if several banks participate in the issuance of a standby letter of credit under a bona fide binding agreement which provides that, regardless of any event, each participant shall be liable only up to a certain percentage or certain amount of the standby letter of credit, the reporting bank only includes the amount of its participation.
Excluded are letters of credit for which the bank has set up a segregated, clearly earmarked deposit account (i.e., cash collateral) to cover the bank's maximum liability. Where such a deposit account covers less than the bank's maximum liability, includes the portion of the standby letter of credit not covered by cash collateral. Also excludes all letters of credit for which the issuing bank has been paid an amount equal to its maximum liability where the bank has received an amount less than its maximum liability, includes the portion of the standby letter of credit in excess of the amount received. (The bank's liability for letters of credit issued for money or its equivalent is reported under "Certified and Officers Checks (2330)"). Also excludes standby letters of credit where either the beneficiary or the account party is a consolidated subsidiary of the bank.