Data Dictionary
Item Number J847
OTHER ASSETS: INTEREST ACCRUEDCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| FRBSJ847 | 1989-12-31 | 9999-12-31 | Yes | FR 34 |
Data Description:
This account represents interest accrued, but not yet collected, on earning assets. The accruals are based on holdings of such assets at the opening of business and are calculated and debited to the respective ledger accounts and credited to earnings. The principal ledger accounts are as follows:
Interest accrued on securities in System Open Market Account - Entries are made upon wire advice from the New York Reserve Bank. Interest accrued on securities is debited to the account beginning the day that a security is purchased and ending the day before the security is sold or matures. Daily accruals are computed on individual issues by dividing the amount of interest to be earned by the number of days to the payment date.
Interest accrued on investments of consolidated LLCs - Entries are made to the accounts of the LLCs and, as a result of consolidation, are reported by the New York Reserve Bank as a component of accrued interest. Daily accruals are booked at least weekly and are computed on individual issues by dividing the amount of interest to be earned by the number of days to the payment date.
Interest accrued on loans - The daily accrual is based on the rate in effect on the previous day divided by 365 days. Accrual on a one day loan is unnecessary.