Board of Governors of the Federal Reserve System

Data Dictionary

Item Number B507

Call confidentiality applies to FFIEC 031/041.

Data Description:

Includes the sum of all corrections, net of applicable income taxes, resulting from material accounting errors which were made in prior years' Reports of Condition and Income and not corrected by the filing of an amended report for the period in which the error was made and the cumulative effect, net of applicable income taxes, of those changes in accounting principles adopted during the calendar year-to-date reporting period that were applied retroactively and for which prior years' financial statements were restated.

Include only those corrections that result from:

(1) Mathematical mistakes.
(2) Mistakes in applying accounting principles.
(3) Improper use of information which existed when the prior Reports of Condition and Income were prepared.
(4) A change from an accounting principle that is neither accepted nor sanctioned by bank supervisors to one that is acceptable to supervisors.

The effect of accounting errors differs from the effect of changes in accounting estimates. Changes in accounting estimates are an inherent part of the accrual accounting process. Report the effect of any changes in accounting estimates in the appropriate line items of Schedule RI, Income Statement.

The cumulative effect of a change in accounting principle is the difference between (1) the balance in the retained earnings account at the beginning of the year in which the change is made and (2) the balance in the retained earnings account that would have been reported at the beginning of the year had the newly adopted accounting principle been applied in all prior periods.

The cumulative effect, if any, of all other changes in accounting principles adopted during the calendar year-to-date reporting period must be reported in Schedule RI, item 11, "Extraordinary items and other adjustments, net of income taxes."

State the dollar amount of and describe each accounting error correction and cumulative effect included in this item in Schedule RI-E, item 4.

Refer to the Glossary entry for "accounting changes" for additional informationon how to report the effects of changes in accounting principles, corrections of errors, and changes in estimates.

NOTE:

Reported on Schedule RI-A - Equity Capital for the FFIEC 031 and 041 reports.

Reported on Schedule HI-A Changes in Equity Capital for the FR Y-9C report.


BAGQ Original Variable name: RESTATQ Formula:

RESTATQ=IF DT ge 20010331 THEN RESTATQ = RIADB507/1000;

BAGY Original Variable name: RESTATE Formula:

RESTATE=IF DT ge 20010331 THEN RESTATE = RIADB507/1000;