Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Data Dictionary

Item Number J888

OTHER LIABILITIES: DISCOUNT ON SECURITIES

Call confidentiality applies to FFIEC 031/041.

Series	Start Date	End Date	Confidential?	Reporting Forms
FRBSJ888	1989-12-31	9999-12-31	Yes	FR 34

Data Description:

Discount on securities represents the amount paid under the face value for securities in the System Open Market Account. The face value is recorded in the asset account for securities. On the date of purchase, the amount of the discount is credited to this account. The daily straight-line amortization is determined by dividing the discount by the number of days to the maturity date of the issue. Accretion of discounts on Federal agency and GSE MBS is determined based on an effective yield calculation. When securities are sold, any remaining unamortized discount is debited to this account. All entries are made upon advice from New York.

Last update: Apr 23, 2024