Board of Governors of the Federal Reserve System

Data Dictionary

Item Number B306

Call confidentiality applies to FFIEC 031/041.

Data Description:

Report on the gross profit (loss) from management of or participation in underwriting syndicates and selling groups. Gross profit (loss) shall be determined as the difference between the proceeds of securities sold and their purchase price adjusted for discounts, commissions and allowances received from or given to other brokers. Any direct expense which can be associated with specific underwriting may also be considered as a cost in determining gross profit (loss). In determining gross profit (loss), any unrealized loss on securities unsold at the time the underwriting account was closed shall be considered as a deduction from the proeeds of securities sold.

Employee compensation and employment cost of persons working in an "underwriting department" and other related expenses of such department shall be treated as indicated expenses and not deducted in determining gross profit (loss).

Include the profit (loss) from management of or participation in underwriting sndicates and selling groups where the security underwritten is a corporate equity security. ("Equity security" shall mean any stock or similar security, or any security convertible, with or without consideration, into such a security, or carrying any warrant or right to subscribe to or purchase such a security.)

NOTE:

Reported on the Focus Report.