Board of Governors of the Federal Reserve System

Data Dictionary

Item Number C076

Call confidentiality applies to FFIEC 031/041.

Data Description:

Report deferred policy acquisition costs (DPAC) incurred by insurance companies. DPAC include variable acquisition costs such as commissions and underwriting and policy issuance expenses related to both new and renewal insurance policies and annuities.
OTS ACCOUNT(S)
SVHPC076 - HC370
SVHCC076 - HC660

Prior to 20040331 item SVHCC076 was "INTANGIBLE ASSETS AND DEFERRED POLICY ACQUISITION COSTS" OTS ACCOUNT SVHCC076 - HC510.

Report the unamortized balance of intagible assets and deferred policy acquisition costs of the consolidated holding company.

Some of the intangible assets you should include are:

   1. Goodwill
   2. Customer relationships and customer lists, including core deposit premiums
   3. Employment agreements
   4. Noncompetition agreements
   5. Lease agreements
   6. Computer software cost
   7. Loan servicing contracts, including mortgage servicing rights.

Deferred policy acquisition costs are capitalized costs that are incurred by insurance companies. They include variable acquisition costs such as commissions and underwriting and policy issuance expenses, related to both new and renewal premium revenue that are deferred, and then expensed as the related premium revenue is earned.

NOTE:

Prior to 6/30/02, some of the intangible assets included:

   1. Goodwill
   2. Core deposit intangibles
   3. Franchises
   4. Trademarks
   5. Patents
   6. Certain operating rights

Item is reported as confidential.

COMPARABILITY:

Beginning 3/31/04, reported on Schedule HC for the SVGL report. Report deferred policy acquisition cost incurred by insurance companies. DPAC include variable acquisition costs such as commissions and underwriting and policy inssuance expenses related to both new and renewal insurance policies and annuities.

SVC2, SVC3, SVC4 = OTS Account HC660

SVP2, SVP3, SVP4 = OTS Account HC370