Data Dictionary
Item Number J848
OTHER ASSETS: PREMIUM ON SECURITIESCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| FRBSJ848 | 1989-12-31 | 9999-12-31 | Yes | FR 34 |
Data Description:
Premium on securities represents the unamortized amount paid in excess of the face value of securities in the System Open Market Account. On the date of purchase, such excess is debited to this account and daily thereafter an equal portion of the premiums, computed on individual issues, is credited to the account. The daily straight-line amortization is determined by dividing the premiums paid by the number of days to the call date of the issue. Amortization of premiums on Federal agency and GSE mortgage-backed securities is determined based on an effective yield calculation. When securities are sold, any applicable premium is credited to the account. All entries are made upon advice from the New York Reserve Bank.