Board of Governors of the Federal Reserve System

Data Dictionary

Item Number A526

Call confidentiality applies to FFIEC 031/041.

Data Description:

If the reporting bank offset or netted any recognized assets against recognized nondeposit liabilities (and deposits in foreign offices other than insured branches in Puerto Rico and U.S. territories and possessions) in accordance with generally accepted accounting principles (GAAP) when it prepared its Call Report balance sheet (Schedule RC), the amount of assets netted against liabilities is reported, except as noted below. The accounting standards for offsetting (netting) are set forth in FASB Interpretations No. 39 and No. 41. For further information, see the Glossary entry for "Offsetting" in the Call Report Sample Booklet for March 31, 1997.

Includes: (1) borrowings against the cash surrender value of life insurance policies that have been netted against the cash surrender value asset on the balance sheet in accordance with GAAP; (2) securities purchased under agreements to resell that have been netted against securities sold under agreements to repurchase in accordance with GAAP; (3) receivables and payables arising from unsettled trades that have been reported on a net basis in accordance with GAAP; and (4) on the FFIEC 031, "back-to-back" loans that have been netted against deposits in foreign offices other than insured branches in accordance with GAAP.

Although not a netting of assets against liabilities, included in this item is the outstanding amount of assets removed from the reporting bank's balance sheet in connection with debt defeased prior to January 1, 1997. The amount reported for defeased debt should equal the amount of cash or risk-free securities, generally U.S. Government securities, placed in an "irrevocable" trust for the sole purpose of meeting all of the remaining debt service payments associated with the defeased obligations in accordance with FASB Statement No. 76, "Extinguishment of Debt."

Excludes: (1) netted on-balance sheet amounts associated with off-balance sheet derivative contracts; (2) deferred tax assets netted against deferred tax liabilities; (3) assets netted against liabilities in accounting for pension plans and other postretirement benefit plans; (4) assets netted against liabilities in accounting for leveraged leases; and (5) due from deposit balances and other assets netted against deposit liabilities in domestic offices (and in insured branches in Puerto Rico and U.S. territories and possessions) (certain amounts netted against these deposit liabilities are reported in Schedule RC-O, items 11 and 12).

NOTE:

Reported on Schedule RC-M - Memoranda for the FFIEC 031, 032, 033 and 034 reports.

Reported on Schedule RAL - Assets and Liabilities for the FFIEC 002 report.