Instructions For Schedule Rc-L (Form Ffiec 031 And 041) - Derivatives And Pff-Balance Sheet Items
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18FFIEC 031 and 041
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
SCHEDULE RC-L – DERIVATIVES AND OFF-BALANCE SHEET ITEMS
General Instructions
Schedule RC-L should be completed on a fully consolidated basis. In addition to information about
derivatives, Schedule RC-L includes the following selected commitments, contingencies, and other
off-balance sheet items that are not reportable as part of the balance sheet of the Report of Condition.
Among the items not to be reported in this schedule are contingencies arising in connection with litigation.
Item Instructions
Item No.
Caption and Instructions
Unused commitments . Report in the appropriate subitem the unused portions of
1
commitments to make or purchase extensions of credit in the form of loans or participations in
loans, lease financing receivables, or similar transactions. Exclude commitments that meet
the definition of a derivative and must be accounted for in accordance with FASB Statement
No. 133, which should be reported in Schedule RC-L, item 12.
Report the unused portions of all credit card lines in item 1.b. Report in items 1.a and 1.c
through 1.e the unused portions of commitments for which the bank has charged a
commitment fee or other consideration, or otherwise has a legally binding commitment. Such
commitments are to be reported in the appropriate subitem regardless of whether they
contain "material adverse change" clauses or other provisions that are intended to relieve the
issuer of its funding obligations under certain conditions and regardless of whether they are
unconditionally cancelable at any time. In the case of commitments for syndicated loans,
report only the bank's proportional share of the commitment. Unused commitments are to be
reported gross, i.e., include in this item the amounts of commitments acquired from and
conveyed to others.
Include loan proceeds that the bank is obligated to advance, such as loan draws, construction
progress payments, seasonal or living advances to farmers under prearranged lines of credit,
rotating or revolving credit arrangements, including retail credit cards, or similar transactions.
Forward agreements and commitments to issue a commitment at some point in the future are
to be reported in this item.
In addition, include revolving underwriting facilities (RUFs), note issuance facilities (NIFs), and
other similar arrangements. These are facilities under which a borrower can issue on a
revolving basis short-term paper in its own name, but for which the underwriting banks have a
legally binding commitment either to purchase any notes the borrower is unable to sell by the
rollover date or to advance funds to the borrower.
1.a
Revolving, open-end lines secured by 1-4 family residential properties . Report the
unused portions of commitments to extend credit under revolving, open-end lines of credit
secured by 1-4 family residential properties. These lines, commonly known as home equity
lines, are typically secured by a junior lien and are usually accessible by check or credit card.
FFIEC 031 and 041
RC-L-1
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
(3-02)
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