Instructions For Schedule Rc-L (Form Ffiec 031 And 041) - Derivatives And Pff-Balance Sheet Items Page 7
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18FFIEC 031 and 041
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
Item No.
Caption and Instructions
A spot contract is an agreement for the immediate delivery, usually within two business days,
8
(cont.)
of a foreign currency at the prevailing cash market rate. Spot contracts are considered
outstanding (i.e., open) until they have been cancelled by acquisition or delivery of the
underlying currencies.
Only one side of a spot foreign exchange contract is to be reported. In those transactions
where foreign (non-U.S.) currencies are bought or sold against U.S. dollars, report only that
side of the transaction that involves the foreign (non-U.S.) currency. For example, if the
reporting bank enters into a spot contract which obligates the bank to purchase U.S. dollar
exchange against which it sells Japanese yen, then the bank would report (in U.S. dollar
equivalent values) the amount of Japanese yen sold in this item. In cross-currency spot
foreign exchange transactions, which involve the purchase and sale of two non-U.S.
currencies, only the purchase side is to be reported (in U.S. dollar equivalent values).
All other off-balance sheet liabilities . Report all significant types of off-balance sheet
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liabilities not covered in other items of this schedule. Exclude all items which are required to
be reported as liabilities on the balance sheet of the Report of Condition (Schedule RC),
contingent liabilities arising in connection with litigation in which the reporting bank is involved,
commitments to purchase property being acquired for lease to others (report in
Schedule RC-L, item 1.e, above), and signature and endorsement guarantees of the type
associated with the regular clearing of negotiable instruments or securities in the normal
course of business.
Report only the aggregate amount of those types of "other off-balance sheet liabilities" that
individually exceed 10 percent of the bank's total equity capital reported in Schedule RC,
item 28. If the bank has no types of "other off-balance sheet liabilities" that individually
exceed 10 percent of total equity capital, report a zero or the word "none."
Disclose in items 9.a through 9.f each type of "other off-balance sheet liabilities" reportable in
this item, and the dollar amount of the off-balance sheet liability, that individually exceeds
25 percent of the bank's total equity capital reported in Schedule RC, item 28. For each type
of off-balance sheet liability that exceeds this disclosure threshold for which a preprinted
caption has not been provided, describe the liability with a clear but concise caption in
items 9.c through 9.f. These descriptions should not exceed 50 characters in length
(including spacing between words).
Include as other off-balance sheet liabilities:
(1) Securities borrowed against collateral (other than cash), or on an uncollateralized basis,
for such purposes as pledge against deposit liabilities or delivery against short sales.
Report borrowed securities that are fully collateralized by similar securities of equivalent
value at market value at the time they are borrowed. Report other borrowed securities at
market value as of the report date. (Report the amount of securities borrowed in
Schedule RC-L, item 9.a, if this amount exceeds 25 percent of the bank’s total equity
capital reported in Schedule RC, item 28.)
(2) Commitments to purchase when-issued securities that are excluded from the
requirements of FASB Statement No. 133 (and therefore not reported as forward
contracts in Schedule RC-L, item 12.b, below). (Report the amount of these
commitments in Schedule RC-L, item 9.b, if this amount exceeds 25 percent of the bank’s
total equity capital reported in Schedule RC, item 28.)
FFIEC 031 and 041
RC-L-7
RC-L – DERIVATIVES AND OFF-BALANCE SHEET
(3-02)
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