Board of Governors of the Federal Reserve System

Data Dictionary

Item Number 5590

Call confidentiality applies to FFIEC 031/041.

Data Description:

NOTE:

To be completed for the December report only.

Reported 0n Schedule RC-E, Part I for the FFIEC 031, 032, 033, and 034 reports.

Also reported by the FFIEC 002 reporters (only by branches whose deposits are insured by the FDIC (excluding IBF)).
Includes all deposits of states and political subdivisions in the U.S. that are included in items 2203 and 2530 (included in Schedule RC-E in the FFIEC 031-034 reports) and items 1650 and 2259 (included in Schedule E columns A and C in the FFIEC 002 report) which are secured or collateralized as required under federal law. Also excludes deposits of trust funds which are secured or collateralized as required under state law unless the beneficiary is a state or political subdivision in the U.S. The amount reported in this item must be less than the sum of Schedule RC-E, item 3 (2203), column A, and item 3 (2530), column C for the FFIEC 031-034 reports.
State law may require a bank to pledge securities (or other readily marketable assets) to cover the uninsured portion of the deposits of a state or political subdivision. If the bank has pledged securities with a value that exceeds the amount of the uninsured portion of the state or political subdivision's deposits, only the uninsured amount (and none of the insured portion of the deposits) should be reported as a "preferred deposit." For example, a political subdivision has $350,000 in deposits at a bank which, under state law, is required to pledge securities to cover only the uninsured portion of such deposits ($250,000 in this example). The bank has pledged securities with a value of $300,000 to secure these deposits. Only $250,000 of the political subdivision's $350,000 in deposits (the uninsured amount) would be considered "preferred deposits."
In other states, banks must participate in a state public deposits program in order to receive deposits from the state or from political subdivisions within the state in amounts that would not be covered by federal deposit insurance. Under state law in such states, the value of the securities a bank must pledge to the state is calculated annually, but represents only a percentage of the uninsured portion of its public deposits. Institutions participating in the state program may potentially be required to share in any loss to public depositors incurred in the failure of another participating institution. As long as the value of the securities pledged to the state exceeds the calculated requirement, all of the bank's uninsured public deposits are protected from loss under the operation of the state program if the bank fails and, therefore, all of the uninsured public deposits are considered "preferred deposits." For example, a bank participating in a state public deposits program has $1,000,000 in public deposits under the program and $700,000 of this amount is uninsured. The bank's most recent calculation indicates that it must pledge securities with a value of at least $77,000 to the state in order to participate in the state program. The bank has pledged securities with an actual value of $80,000. The bank should report the $700,000 in uninsured public deposits as "preferred deposits" in the Call Report.
Excludes deposits of the U.S. Government which are secured or collateralized as required under federal law. Also excludes deposits of trust funds which are secured or collateralized as required under state law unless the beneficiary is a state or political subdivision in the U.S. The amount reported in this item must be less than or equal to the sum of items 2203 and 2530 or the sum of items 1650 and 2259.



BAGR Original Variable name: PREDEP Formula:

PREDEP=IF DT ge 19930331 THEN PREDEP = RCON5590/1000;