Instructions For Schedule Rc-L (Form Ffiec 031 And 041) - Derivatives And Pff-Balance Sheet Items Page 12
ADVERTISEMENT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18FFIEC 031 and 041
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
Item No.
Caption and Instructions
A currency futures contract is a standardized agreement for delayed delivery of a foreign
12.a
(cont.)
(non-U.S.) currency or U.S. dollar exchange in which the buyer agrees to purchase and the
seller agrees to deliver, at a specified future date, a specified amount at a specified exchange
rate.
Column C, Equity Derivative Futures: Report futures contracts committing the reporting bank
to purchase or sell equity securities or instruments based on equity indexes such as the
Standard and Poor's 500 or the Nikkei.
Column D, Commodity and Other Futures: Report the contract amount for all futures
contracts committing the reporting bank to purchase or sell commodities such as agricultural
products (e.g., wheat, coffee), precious metals (e.g., gold, platinum), and non-ferrous metals
(e.g., copper, zinc). Include any other futures contract that is not reportable as an interest
rate, foreign exchange, or equity derivative contract in column A, B, or C.
Forward contracts . Forward contracts represent agreements for delayed delivery of
12.b
financial instruments or commodities in which the buyer agrees to purchase and the seller
agrees to deliver, at a specified future date, a specified instrument or commodity at a
specified price or yield. Forward contracts are not traded on organized exchanges and their
contractual terms are not standardized.
Report the aggregate par value of forward contracts that have been entered into by the
reporting bank and are outstanding (i.e., open contracts) as of the report date. Do not report
the par value of financial instruments intended to be delivered under such contracts if this par
value differs from the par value of the contracts themselves.
Contracts are outstanding (i.e., open) until they have been cancelled by acquisition or delivery
of the underlying financial instruments or settled in cash. Such contracts can only be
terminated, other than by receipt of the underlying asset, by agreement of both buyer and
seller.
Include as forward contracts commitments to purchase and sell when-issued securities that
are not excluded from the requirements of FASB Statement No. 133 as a regular-way security
trade. Report such contracts on a gross basis (except that banks may net purchases and
sales of the identical security with the same party). Report commitments to purchase when-
issued securities that are excluded from the requirements of FASB Statement No. 133 as
"Other off-balance sheet liabilities" in Schedule RC-L, item 9, and commitments to sell when-
issued securities that are excluded from the requirements of FASB Statement No. 133 as
"Other off-balance sheet assets" in Schedule RC-L, item 10, subject to the existing reporting
thresholds for these two items.
Column A, Interest Rate Forwards: Report forward contracts committing the reporting bank to
purchase or sell financial instruments and whose predominant risk characteristic is interest
rate risk. Include in this item firm commitments (i.e., commitments that have a specific
interest rate or price, selling date, and dollar amount) to sell loans secured by 1-to-4 family
residential properties that meet the definition of a derivative contract under FASB Statement
No. 133.
Column B, Foreign Exchange Forwards: Report the gross amount (stated in U.S. dollars) of
all forward contracts committing the reporting bank to purchase foreign (non-U.S.) currencies
and U.S. dollar exchange and whose predominant risk characteristic is foreign exchange risk.
FFIEC 031 and 041
RC-L-12
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
(3-02)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Instructions For Schedule Rc (form 41a720rc(i)) - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Instructions For Schedule Rc - Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Instructions For Schedule Rc Application For Income Tax/llet Credit For Recycling And/or Composting Equipment Or Major Recycling Project
Financial
Instructions For Schedule In-112 - Vermont Tax Adjustments And Credits, Schedule In-113 - Income Adjustment
Financial
Instructions For Schedule Fit-166 - Vt Income Adjustments And Tax Computations For Fiduciaries
Financial
Instructions For Schedule P (541) - Alternative Minimum Tax And Credit Limitations - Fiduciaries - 1999
Financial
Related Categories
Parent category: Legal