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Inactive Financial Institution Letters 



[Federal Register: September 17, 1999 (Volume 64, Number 180)]
[Rules and Regulations]               
[Page 50429-50439]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr17se99-4]                         

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FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 331

RIN 3064 -AC23

 
Asset and Liability Backup Program

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Confirmation of interim final rule with changes.

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SUMMARY: This rule confirms as final the FDIC's interim rule requiring 
asset and liability backup programs (ALBPs) for limited deposit account 
and loan account information in a limited number of institutions to 
facilitate timely and accurate restoration of key financial records in 
the event that an FDIC-insured depository institution (insured 
depository institution) experiences a Year 2000 (Y2K) computer problem 
and is placed in receivership. Specifically, the rule requires those 
insured depository institutions receivingY2K ratings of less than 
``Satisfactory'' on or after July 31, 1999 (affected institutions) to 
follow specific programs to backup certain information concerning 
deposit and loan accounts. This information will be retained by each 
bank or savings and loan (thrift) to which the rule applies and used by 
the FDIC only if such an institution must be closed. This regulation 
will sunset on June 30, 2000 and will no longer be applicable after 
that date. An affected institution will be exempted from this ALBP rule 
if its primary federal regulator provides a written determination to 
the Executive Secretary, FDIC that the ALBP is not needed.

EFFECTIVE DATES: This rule is effective September 17, 1999.

FOR FURTHER INFORMATION CONTACT: Division of Resolutions and 
Receiverships: James E. Crum, Manager, Information Systems Section 
(202) 898-6698. Legal Division: Nancy Schucker Recchia, Counsel (202) 
898-8885; Federal Deposit Insurance Corporation, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

I. Background

    Under the auspices of the Federal Financial Institutions 
Examination Council (FFIEC), the FDIC, the Board of

[[Page 50430]]

Governors of the Federal Reserve System (Board), the Office of the 
Comptroller of the Currency (OCC), and the Office of Thrift Supervision 
(OTS) have provided extensive Y2K-readiness guidance to the banking 
industry. Virtually all of the nation's banks and thrifts are prepared 
for the millennium. As a result of these efforts, the FFIEC agencies 
expect few, if any, insured depository institutions to close because of 
the Y2K date change. Despite best efforts to prepare for Y2K, however, 
there remains the possibility that some institutions may not be Y2K 
ready and may have to be closed. The FDIC must plan for every 
conceivable event. The FDIC has adopted this rule to ensure that, if an 
affected institution experiences a Y2K problem and is closed, the FDIC 
will be able to make federally insured deposits available to depositors 
expeditiously. The rule also will facilitate the quick acquisition or 
transfer of servicing of assets and help maintain public confidence in, 
and minimize any related disruption to, the United States of America's 
financial system.
    The rule requires affected institutions to create standardized 
backup programs for their deposit and loan accounts, in addition to 
their own backup systems. In the unlikely event that an affected 
institution experiences a Y2K problem and is closed, these standardized 
backup programs will provide the FDIC access to essential basic account 
information and eliminate the need to map and convert information 
before account reconciliation and deposit insurance determination can 
begin. A Y2K problem could make an institution's systems unusable for 
potential purchasers, making an alternative conversion process 
essential for an expeditious transfer of assets and liabilities. The 
rule will reduce the time needed to convert a closed affected 
institution's information. The rule is critical to the FDIC's ability 
to determine quickly and accurately deposit and loan account 
information to permit timely and accurate access of insured depositors 
to their accounts and effective management of receivership assets.

II. The Interim Final Rule

    The FDIC published 12 CFR part 331 in the Federal Register as an 
interim final rule and request for comment on June 9, 1999, 64 FR 
30869. The comment period closed and the interim final rule became 
effective on July 9, 1999.

III. Summary of Comments Received

    In response to the request for comment published with the interim 
final rule, the FDIC received three comment letters. Two were from 
community bank trade associations and one was from a bank. The FDIC 
carefully considered each of the comment letters in light of theY2K 
concerns addressed by the rule, and, for the reasons discussed below, 
determined to finalize the interim final rule as it became effective on 
July 9, 1999, with the minor formatting and deadline changes discussed 
below.
    Both of the trade association commenters generally supported the 
FDIC's need to have available appropriate data to facilitate quick and 
efficient resolution of insured depository institutions in the event 
that that there should be a Y2K related failure. One of the trade 
association commenters stated its belief that the rule (1) is an 
appropriate step for the FDIC, (2) offers an extra incentive to any 
banks that have made less than satisfactory progress towards being 
prepared for Y2K to take the necessary steps to become 
``satisfactory,'' (3) is a good step to help ensure that account 
records can be transferred readily to another depository institution or 
to a receiver should the need arise, and (4) should provide additional 
comfort to the banking public that its deposits will be accessible 
after December 31, 1999. The other trade association commenter 
questioned whether the implementation details properly balanced the 
costs and benefits of the program and provided specific suggestions, 
discussed below, regarding how the affected institutions are selected, 
the deadlines for implementing the various provisions in the rule and 
the costs of the program. The bank commenter was opposed to the rule, 
believing it would take valuable resources away from affected 
institutions' Y2K remediation efforts, and opined that the FDIC and 
other agencies should provide reasonable assistance to aid those 
institutions in their Y2K compliance efforts.
    The FDIC has considered all comments received. As a result of such 
consideration and in an effort to further refine the specifications of 
the ALBP, the final rule makes certain minor formatting changes to the 
Extract File Formats and extends certain deadlines as discussed below. 
The final rule does not require affected institutions to provide any 
more information than the interim final rule required.

IV. The Final Rule

A. The Final Rule Reflects ALBP Deposit and Loan Extract File Format 
Changes Developed From Industry Input

    The FDIC sought technical advice from a variety of sources in 
developing the interim final rule. Industry programming experts have 
reviewed the rule and identified certain areas of either the Technical 
Instructions or the Deposit and Loan Extract File Formats requiring 
clarification to ensure consistency between the Technical Instructions 
and the Extract File Formats, and accurate compliance with the 
programming specifications. The formatting changes that address these 
concerns are set forth below.
1. Deposit Extract File Format
     Information Field 1: Account Status--Clarified the 
Definition to limit the acceptable codes to: O = Open, C = Closed, D = 
Dormant, I = Inactive.
     Information Field 3: Account Number--Expanded the Info 
Length to 20 characters.
     Information Field 8: Customer Street Address Line 1--
Clarified the Definition to restrict this field to the first line of 
three allocated for customer street addresses.
     Information Field 9: Customer Street Address Line 2--Added 
a new field for the second line of three allocated for customer street 
addresses.
     Information Field 10: Customer Street Address Line 2--
Added a new field for the third line of three allocated for customer 
street addresses.
     Information Field 11: Customer City--Provided technical 
instructions for dealing with addresses located in foreign countries.
     Information Field 30: Overdraft Account Number--Expanded 
the Info Length to 20 characters to match other deposit account number 
field lengths.
     Information Fields 26-28: Clarified the Info Length for 
dates to allow 10 characters to accommodate the slashes specified in 
the Technical Instructions.
     Information Fields 31-33: Clarified the decimal precision 
level (DEC) as 2 places.
     All Interest Rate Fields: Clarified Technical Instruction 
No. 5 to reflect the format for all interest rate fields to be 
displayed as xx.xxxxx.
2. Loan Extract File Format
     Information Field 3: Borrower Street Address Line 1--
Clarified the Definition to restrict this field to the first line of 
three allocated for customer street addresses.
     Information Field 4: Borrower Street Address Line 2--Added 
a new field for the second line of three allocated for customer street 
addresses.

[[Page 50431]]

     Information Field 5: Borrower Address Line 2--Added a new 
field for the third line of three allocated for customer street 
addresses.
     Information Field 6: Borrower City--Provided technical 
instructions for dealing with addresses located in foreign countries.
     All Date Fields: Clarified the Info Length to allow 10 
characters to accommodate the slashes specified in the Technical 
Instructions. Information Fields affected include: 28, 29, 30, 34, 36, 
44, 51, 64 and 66.
     All Interest Rate Fields: Clarified Technical Instruction 
No. 5 to reflect the format for all interest rate fields to be 
displayed as xx.xxxxx. Corrected the precision level (Dec) for all such 
fields to reflect 5 characters. Information Fields affected include 
Nos. 25, 32, 33 and 48.
    The final rule extends the date by which affected institutions are 
to complete their programming and testing of their ALBP Deposit and 
Loan Extract Files to October 31, 1999 and the date by which to submit 
their test files to the FDIC to November 15, 1999.

B. The Final Rule Implements the ALBP Requirements in the Least 
Burdensome Manner Possible

The Rule Applies to Only Those Insured Depository Institutions That 
Present the Greatest Y2K Risk
    Both of the trade association commenters commented on and made 
suggestions regarding the implementation details of the rule. One of 
the trade association commenters suggested that the only institutions 
that should be subject to the rule are CAMELS 4, 5 and low-3 rated 
institutions and those that the primary federal regulators deem to pose 
serious data-processing-related risks. This commenter stated that well-
capitalized, well-performing institutions with less than Satisfactory 
Y2K ratings that are not related to data processing and retention 
deficiencies or inadequate contingency plans are not likely to close.
    Section 331.1 of the rule sets forth those insured depository 
institutions to which the rule applies (affected institutions). 
Affected institutions are all insured depository institutions as that 
term is defined in section 3(c) of the Federal Deposit Insurance Act 
(12 U.S.C. 1813(c)) that have received a rating of less than 
Satisfactory in Y2K readiness by their primary federal regulator as of 
July 31, 1999. The rule also applies prospectively to any insured 
depository institution that received a Satisfactory rating as of July 
31, 1999, and subsequently receives a rating of less than Satisfactory. 
The rule continues to apply to both categories of institutions until 
the termination date specified in Sec. 331.3(d). Before January 1, 
2000, if an affected institution's primary federal regulator changes 
the institution's Y2K readiness rating to Satisfactory, it will not be 
required to comply with the rule as of the date of the change. This 
permits institutions that demonstrate improvement in Y2K readiness 
after July 31, 1999, to avoid the requirements of the rule. After 
January 1, 2000, an affected institution will not be required to comply 
with the rule as of the date on which its primary federal regulator 
verifies that the institution's systems are Y2K ready. The rule sunsets 
on June 30, 2000.
    Section 331.2 of the rule provides that an affected institution, 
without application, will be exempted by the FDIC from the rule upon a 
written determination by its primary federal regulator that the ALBP is 
not needed for that institution. For example, the primary federal 
regulator may find that an institution has ensured its systems' 
readiness during the testing phase and developed adequate business 
resumption contingency plans, but for less critical reasons was 
assessed a less than Satisfactory rating. A primary federal regulator's 
written determination should be submitted to the Executive Secretary of 
the FDIC. In the case of an FDIC-regulated institution, the 
determination would be made by the FDIC's Director of the Division of 
Supervision, or designee, and submitted to the Executive Secretary of 
the FDIC.
    As insurer of the nation's bank and thrift deposits, the FDIC must 
act in a prudent and cost effective manner. It has considered numerous 
variables in order to identify which institutions present the greatest 
Y2K risk for purposes of the ALBP rule. The FFIEC agencies expect few, 
if any, insured depository institutions to close because of the Y2K 
date change. Despite best efforts to prepare for Y2K, some institutions 
may not be Y2K ready and may have to be closed. The inclusion of all 
less than Satisfactory institutions, regardless of their CAMELS 
ratings, reflects the FDIC's planning for every conceivable event in 
order to ensure that, if an affected institution experiences a Y2K 
problem and is closed, the FDIC will be able to make federally insured 
deposits available to depositors expeditiously. The FDIC believes that 
the exemption available under Sec. 331.2 will enable those affected 
institutions that do not present significant Y2K risk to be exempted 
from the requirements of the rule.
The Rule Provides for Maximum Compliance Time
    The two trade association commenters commented on the compliance 
time table contained in the rule. One stated that July 31, 1999 is an 
appropriate date for determining which insured depository institutions 
will be subject to the rule. However, this commenter suggested that the 
FDIC allow some flexibility with respect to the October 31, 1999 date 
by which the interim final rule required affected institutions to 
demonstrate compliance with the rule to the FDIC. This commenter 
suggested that additional time be allowed where an affected institution 
could demonstrate reasonable cause for not meeting the October 31st 
deadline. This commenter also suggested that the FDIC consider 
shortening the June 30, 2000 sunset date for the rule.
    The interim final rule established September 30, 1999 as the date 
by which affected institutions should complete programming and testing 
of ALBP Deposit and Loan Extract Files. It also established October 31, 
1999 as the date by which an affected institution must submit test 
files containing sample data to the FDIC. These dates were chosen after 
consultation with institutions and service bureaus experienced in 
programming files similar to those required under the Rule. The FDIC 
requires sufficient time to process the test files and, should problems 
be discovered, work with the affected institution to resolve them and 
re-validate new test files.
    The final rule establishes October 31, 1999 as the date by which 
affected institutions should complete programming and testing and 
November 15, 1999 as the date by which affected institutions should 
submit test files to the FDIC. These extensions of time give 
consideration to the clarifications to the ALBP Extract File Formats 
included in the final rule and the smaller number of affected 
institutions subject to the final rule.
    The formatting changes identified in the final rule will ensure the 
accurate and consistent interpretation of the data contained in the 
ALBP Deposit and Loan Extract Files. Should an affected institution 
have completed its programming and testing of ALBP Extract File Formats 
prior to the publication of the final rule in the Federal Register, or 
should it be unable to meet the November 15, 1999 date, the FDIC will 
work with the affected institution and its primary federal regulator to 
determine the most appropriate course of action.

[[Page 50432]]

    The FDIC considered a variety of possible sunset dates for the 
rule. June 30, 2000 was deemed the most appropriate date as it allowed 
adequate time for any major system disruption to be identified and 
resolved. Prior to June 30, 2000, should an affected institution 
establish to the satisfaction of its primary federal regulator that its 
systems and data are fully functional and reliable, the affected 
institution will no longer be subject to the rule.
    The other trade association commenter suggested a timetable that 
would focus initially on affected institutions with CAMELS ratings of 
low-rated 3, 4 or 5. These institutions would make their test file data 
available to the FDIC by September 30, 1999. This commenter suggested 
that by September 7, 1999, the other federal banking agencies send to 
the FDIC a list of the other institutions they regulate which have 
``serious'' Y2K compliance deficiencies as of August 31, 1999, with 
extract data files made available to the FDIC by October 20, 1999.
    Rather than providing additional time for certain institutions to 
comply with the rule, as the commenter suggested, this proposal 
actually would accelerate the timetable for all affected institutions. 
However, the FDIC considered the intent of this proposal to reflect the 
need for more flexibility in meeting the milestones required in the 
Interim Rule. Therefore, the FDIC has modified Sec. 331.4 of the rule 
to require each affected institution to complete its programming and 
testing by October 31, 1999, and to deliver a sample output file 
meeting the ALBP criteria to the FDIC no later than November 15, 1999. 
The timetable in the final rule will provide sufficient time for the 
FDIC to evaluate the ALBP preparations of affected institutions.
FDIC Will Limit Its Use of ALBP Information
    One of the trade association commenters commended the FDIC for 
addressing the potential privacy concerns that this type of rule might 
present by assuring bank customers that the ALBP files are required 
solely as a precaution and that the FDIC will not see the information 
unless the need arises. The rule requires no new reports or 
transmissions of useable information to the FDIC or any other 
government agency. No confidential records will be released. The FDIC 
will use ALBPs only if an affected institution is closed and 
experiences a Y2K problem and to give depositors timely and accurate 
access to their insured deposits, help maintain loan customer 
relationships and facilitate the quick resolution of the institution. 
Once an institution's computer systems are operating successfully in 
the year 2000 to the satisfaction of the institution's primary federal 
regulator, the rule will no longer be applicable to that institution. 
The rule has limited applicability because it sunsets on June 30, 2000.

C. The Benefits of the ALBP Rule Outweigh the Costs

    Each of the commenters discussed the cost to the industry to comply 
with the rule. Each noted that compliance with the rule will divert 
data system programming efforts at a time when such resources might be 
better devoted to making satisfactory progress towards Y2K. One of the 
trade association commenters stated that the benefits of the rule 
outweigh the burdens imposed; the other questioned whether the costs 
and benefits of the ALBP had been properly balanced. One of the trade 
association commenters asked the banking regulatory agencies, when 
evaluating whether or not an institution should be exempt from the 
back-up program requirements, to carefully consider whether compliance 
with the rule would divert an institution's resources from preparing 
for Y2K and defeat the institution's Y2K efforts. This commenter also 
asked the banking regulatory agencies to make every effort to work with 
and monitor affected institutions, providing them expert guidance to 
help prepare for Y2K, noting that such assistance efforts would be more 
important to banks and their depositors than the compliance burden of a 
new back-up program. The other trade association and the bank commenter 
opined that the affected institutions would be better served by 
investing their time and resources in continuing their remediation 
efforts and developing appropriate data processing contingency plans.
    The FDIC believes that for affected institutions, the minimal costs 
for programming and processing associated with creating and maintaining 
the ALBPs, including the minor changes identified in the final rule, 
represent a prudent investment in Y2K contingency planning.
Benefits of the Final Rule
    The preamble to the interim final ALBP rule discussed in detail the 
many benefits of the rule. This rule will ensure that the FDIC will be 
able to continue to help maintain public confidence in the banking 
industry, if an affected institution should experience a Y2K problem 
and be closed, by honoring the FDIC's deposit insurance commitments in 
a timely and accurate manner. If an affected institution is closed and 
its business systems are unable to accurately receive, process and 
produce deposit balances and transactions because of a Y2K problem, the 
FDIC will rely upon the liability backup program to efficiently 
determine insured deposit account balances and quickly and accurately 
transfer or pay out such amounts for the benefit of depositors. 
Similarly the asset backup programs will provide the FDIC with the loan 
information necessary to expeditiously value and sell an institution 
and its assets in the event that the institution's systems are unable 
to receive, process and produce loan balances and transactions, thus 
expediting the return of assets to the marketplace and minimizing 
customer disruptions.
    Potential acquirers of deposits and loans from Y2K related failed 
institutions will be able to anticipate the type and format of insured 
deposit data to be provided by the FDIC in electronic media. Acquirers 
will be able to pre-program their business systems to receive such 
data. Such pre-programming will reduce the time necessary to capture 
and load this data into their business systems upon such an 
acquisition.
    Maximization of the value of the closed institution and its assets 
and liabilities and minimization of resolution costs result in a 
greater return to the closed institution's creditors and the FDIC 
insurance funds. Backup programs are an essential part of Y2K 
contingency planning worldwide. The Basle Committee on Banking 
Supervision has stated that banking supervisors should require their 
banks to ``maintain specified back-up records in electronically 
retrievable media for certain periods or key dates.'' (Year 2000 
Supervisory Contingency Planning Process, January 1999, at 4, 5).
Costs of the Final Rule
    When the cost burden of the interim final rule was estimated, 205 
institutions were identified as affected institutions; as of August 24, 
1999 there are 38. As institutions continue to complete their Year 2000 
preparations and the number of institutions subject to the final rule 
declines, the FDIC has updated the information used in estimating the 
costs of compliance with the final rule. As of August 24, 1999 four 
affected institutions use in-house programming. The remaining 34 
affected institutions use service providers or software vendors. 19 of 
these affected institutions are the sole customer of a service provider 
or software vendor required to comply

[[Page 50433]]

with the final rule. The FDIC assumed that service providers and 
software vendors would allocate their costs across multiple affected 
institutions using a given product line. With many sole customer 
situations, prior assumptions about cost allocations by such providers 
and vendors must be revised.
    Overall, the estimated total cost burden to affected institutions 
has decreased from $3,057,000 to $1,388,500.
     The FDIC estimates the average cost to produce the ALBPs 
to be $17,500 for institutions under $1 billion in asset size and 
$190,000 for institutions greater than $1 billion in asset size when 
using in-house programming and processing.
     Service providers do the programming for most small 
institutions. For institutions using service providers or licensed 
software where the vendor provides the programming service, the FDIC 
estimates the cost of the ALBPs to be range from $13,188 to $52,750 per 
service provider or software vendor customer.

While the estimated cost burden for the remaining affected institutions 
is higher than anticipated in the interim final rule, the FDIC believes 
that the burden of these costs continues to be significantly outweighed 
by the benefits to be obtained.
    Before issuing the interim final ALBP rule, the FDIC surveyed 
thirteen financial institutions and five major service providers of 
software and/or processing support to insured depository institutions 
(Office of Management and Budget Paperwork control number 3064-0130). 
The survey addressed: 1) current business practices, including number 
and types of clients, software development practices and backup 
procedures; 2) programming costs, including estimates of the hours and 
labor costs to program their EDP systems to produce the ALBP files; and 
3) production costs, including estimates of the additional Central 
Processing Unit time to run the file extract routines, storage media 
and impacts on overall production schedules. The FDIC also discussed 
the ALBP rule with representatives of two financial industry trade 
associations, national clearinghouse authorities, a major financial 
information publisher and representatives of other federal financial 
institution regulatory agencies.
The Final Rule Places the Burden of Compliance on Those Institutions 
Presenting the Greatest Y2K Risk
    One of the trade association commenters recognized the flexibility 
provided by the rule to each affected institution to extract and retain 
the required information in the manner that is most cost effective for 
that institution. However, this commenter believed that the FDIC would 
be the main beneficiary of the rule, and as such should bear some of 
the soft dollar costs of the programming effort, possibly by working 
directly with major data processing service providers.
    The FDIC believes that those institutions that demonstrate the 
greatest Y2K risk should pay for their own programming costs. If the 
FDIC were to pay all or part of the programming costs, such costs would 
ultimately be borne by all insured depository institutions as the costs 
would have to be paid out of the deposit insurance funds.

V. The Effective Date

    The FDIC adopted this regulation as an interim final rule effective 
July 9, 1999, without the usual notice and comment period as provided 
in the Administrative Procedure Act (APA), 5 U.S.C. 551, et seq., or 
the delayed effective date as provided in section 302 of the Riegle 
Community Development and Regulatory Improvement Act of 1994 (CDRI), 12 
U.S.C. 4802(b). The APA provides that the requirement for such notice 
and comment periods does not apply ``when the agency for good cause 
finds * * * that notice and public procedure thereon are impracticable, 
unnecessary, or contrary to the public interest''. 5 U.S.C. 
553(b)(3)(B). Section 302 of CDRI provides that certain new regulations 
should ``take effect on the first day of a calendar quarter which 
begins on or after the date on which the regulations are published in 
final form, unless--(A) the agency determines, for good cause published 
with the regulation, that the regulation should become effective before 
such time''. 12 U.S.C. 4802(b)(1)(A).
    The FDIC found for good cause that promulgation of this regulation 
on an expedited basis was required. This rule is necessary to protect 
the public's interest in the continued stability of the financial 
system and to ensure timely and accurate access to deposits in insured 
depository institutions in the event that such institutions 
experiencing a Y2K problem are closed. All efforts to create ALBPs must 
be completed and operational by December 24, 1999, to ensure that 
public confidence in the financial system continues. The changes 
required by this rule would be impracticable to implement in less than 
six months. These backup programs must be in place pre-millennium to 
ensure that all systems will function as of January 1, 2000. 
Programming the backup program files must have begun by early August 
1999, to allow establishment of the system requirements, analysis and 
design, and internal testing of the file production programs. The FDIC 
then must have sufficient time to test the sample formats for 
compliance with the rule and to work with the institutions to correct 
any deficiencies. Delay in the effective date of this rule would have 
been detrimental to the efforts of the regulatory agencies and the 
banking industry to prepare for potential Y2K problems.

VI. Regulatory Flexibility Analysis

    Section 604(a) of the Regulatory Flexibility Act, 5 U.S.C. 604(a), 
requires an agency to prepare a final regulatory flexibility analysis, 
except to the extent provided in 5 U.S.C. 605(b), whenever the agency 
promulgates a final rule under 5 U.S.C. 553 for which it is required to 
publish a general notice of proposed rulemaking. For good cause 
discussed above, the FDIC published this rule as an interim final rule 
and is now finalizing the rule, for which publication of a general 
notice of proposed rulemaking was not necessary. No final regulatory 
flexibility analysis is required.

VII. Paperwork Reduction Act

    In accordance with the Paperwork Reduction Act of 1995 (PRA) 44 
U.S.C. 3501, et seq., the FDIC may not conduct or sponsor, and a 
respondent is not required to respond to, an information collection 
that does not display a currently valid Office of Management and Budget 
(OMB) control number. No comments were received explicitly in response 
to the PRA request for comments contained in the interim final rule. 
However, the comments received in response to the interim final rule 
generally may also be viewed as relating to PRA issues such as 
enhancing the quality of the information to be collected and minimizing 
the burden of the information collection. These issues are discussed 
above in the preamble. The collection of information contained in this 
final rule was submitted to OMB for review and approval in accordance 
with the PRA and has been approved under OMB control number 3064-0132, 
which expires on August 31, 2002. The FDIC continues to welcome 
comments about any of it collections of

[[Page 50434]]

information. Please send comments to: Steven F. Hanft, Assistant 
Executive Secretary (Regulatory Analysis), FDIC, 550 17th Street, N.W., 
Washington, DC 20429.
    Title of the collection: ``Asset and Liability Backup Program.''
    Summary of the collection: This collection calls for affected FDIC-
insured depository institutions to develop and retain extracts of 
deposit and loan account information maintained by such institutions, 
stored in electronic form, beginning December 24, 1999, and continuing 
until the earlier of approval by the institution's primary federal 
regulator or June 30, 2000 (12 CFR 331.3); to program and test the 
required ALBP extract files by October 31, 1999, and to submit a test 
file of sample information for each ALBP format to the FDIC for 
validation purposes (12 CFR 331.4); and to submit supporting 
documentation to the FDIC (12 CFR 331.5).
    Need and use of the information: The FDIC needs the information to 
facilitate timely and accurate restoration of key financial records. 
The FDIC will use the information only in the event of the closure of 
an affected institution experiencing a Y2K problem.
    Respondents: This rule applies those FDIC-insured depository 
institutions receiving Y2K ratings from their primary federal 
regulators of less than ``Satisfactory'' on or after July 31, 1999.
    Adjusted Estimated annual burden resulting from this rulemaking:
    Frequency of response: Daily, beginning December 24, 1999 and 
continuing until released from the rule's requirements or June 30, 
2000, whichever occurs first.
    Number of respondents: 38.
    Average number of hours per respondent: 258.
    Total annual burden hours: 10,500.
    It is noted that the total annual burden includes service bureau 
and other contractor time, and that the actual burden experienced by 
individual institutions may range from 88 hours per institution to 350 
hours per institution.
    The final rule makes no changes in the collection of information 
established in the interim final rule and approved by OMB. However, the 
FDIC has adjusted the burden estimates associated with the information 
collection to reflect current expectations. Specifically, fewer 
institutions are expected to have to comply with the rule (from 205 at 
the time of the interim final rule to 38 at present) and the average 
number of hours that it will take those institutions to comply with the 
information collection has increased from 131.4 hours to 258 hours per 
institution. The increase in the average hours to comply is due to the 
fact that the remaining institutions use in-house programming or are 
the only customers of their service or software providers required to 
comply with the rule. As a result, the time required to comply with the 
information collection cannot be allocated among multiple customers of 
a service or software provider, an assumption made at the time of the 
interim final rule. The FDIC has requested OMB to approve an adjustment 
of the estimated burden.

VIII. Small Business Regulatory Enforcement Fairness Act

    The Office of Management and Budget has determined that this final 
rule is not a ``major rule'' within the meaning of the relevant 
sections of the Small Business Regulatory Enforcement Fairness Act of 
1996 (SBREFA), 5 U.S.C. 801, et seq. As required by SBREFA, the FDIC 
has filed the appropriate reports with Congress and the Comptroller 
General, General Accounting Office so that the final rule can be 
reviewed.

IX. Assessment of Impact of Federal Regulation on Families

    The FDIC has determined that this regulation will not affect family 
well-being within the meaning of section 654 of the Treasury Department 
Appropriations Act, 1999, enacted as part of the Omnibus Consolidated 
and Emergency Supplemental Appropriations Act, 1999 (Pub. L.105-277, 
112 Stat. 2681).

List of Subjects in 12 CFR Part 331

    Bank deposit insurance, Banks, banking, Reporting and recordkeeping 
requirements, Savings associations.

    By order of the Board of Directors.

    Dated at Washington D.C., this 9th day of September, 1999.

Federal Deposit Insurance Corporation
Robert E. Feldman,
Executive Secretary.
    Accordingly, the interim rule adding 12 CFR part 331 which was 
published at 64 FR 30869 on June 9, 1999, is adopted as a final rule 
with the following changes:

PART 331--ASSET AND LIABILITY BACKUP PROGRAM

    1. The authority citation for part 331 continues to read as 
follows:

    Authority: 12 U.S.C. 1818(a) and (b), 1819(a)(Seventh and 
Tenth), 1821.


Sec. 331.4  [Amended]

    2. Amend Sec. 331.4 by removing ``September 30, 1999'' and adding 
in its place ``October 31, 1999'', and by removing the phrase ``no 
later than October 31, 1999'' and adding in its place the phrase ``no 
later than November 15, 1999''.
    3. Revise appendix A to part 331 to read as follows:

Appendix A to Part 331--Asset and Liability Backup Program 
Technical Instructions and Deposit Extract File Format

Technical Instructions

FDIC Standard Deposit Extract File Format

The FDIC Standard Deposit Extract file Format

    The attached ``Deposit Extract File Format'' is a list of fields 
developed as a tool for requesting information from an institution 
for the purposes of insurance estimation and other related 
functions. Please match your institution's deposit information field 
names to those on the ``Deposit Extract File Format.'' For your 
convenience, descriptions of each field are provided.

Standard Deposit Extract File Preferences

1. Information must be provided in an ASCII-flat, tab delimited 
file.
    (a) The preferred media is diskette, CD, ZIP Disk or fixed 
length 9-track tape.
    (b) All deposit records should be included in one file. Separate 
files are acceptable in those cases where the information will not 
fit on the selected media type.
    (c) Diskette and CD files zipped with PKZIP or WINZIP are also 
acceptable. If information cannot be provided on preferred media, or 
you cannot provide the information in ASCII format, please contact 
Mr. James Murphy, at the FDIC's Dallas Field Operations Branch, 
Telephone No. (972) 761-2226, for possible alternatives.
2. Please provide ALL requested information if available.
3. Provide a record layout in a printout accompanying the file. The 
field order and field names are indicated. The field names are under 
the column heading `FDIC NAME.' Your record layout must include 
field order, field name, type (e.g., Character, Numeric), field 
length and decimal places (precision).
4. Do not duplicate records within the download.
5. Decimal points are to be included in the information provided, 
not implied (i.e., $10,300.75 will be provided as 10300.75; an 
interest rate of 8.45% will be provided as 08.45000). Please do NOT 
include packed or zoned decimals.
6. Date formats are to be MM/DD/YYYY (e.g., March 14, 2001 will be 
provided as 03/14/2001).
7. All numeric fields are be right justified. All character fields 
are to be left justified.

[[Page 50435]]

8. When the customer's mailing address is located in a foreign 
country, include the name of the country in the ``Customer City'' 
field, separated from the city by a comma and a space (e.g., Paris, 
France).
9. All numeric value are deemed positive unless signed as negative 
(-).
Deposit Extract File Format -------------------------------------------------------------------------------------------------------------------------------------------------------- Information field Definition FDIC name Info type Info length Dec -------------------------------------------------------------------------------------------------------------------------------------------------------- 1 Account Status.................. Code defining account status (O = Open, C = STATUS................ C.................. 4 ......... Closed, D = Dormant, I = Inactive). 2 Branch Number................... Branch Number................................. BRANCH................ C.................. 4 ......... 3 Account Number.................. Unique account number. Include all fields ACCTNO................ C.................. 20 ......... required to avoid duplicate account numbers. 4 Tax ID Number................... Taxpayer identification number of the primary TAXID................. C.................. 11 ......... account holder (ex: 428-78-1992 or 58-2345679 Include Hyphens). 5 Customer Short Name............. Alpha sort key used to create an alpha list of SHORTNAME............. C.................. 20 ......... accounts. 6 Customer Name................... Full name line 1 as it appears on deposit NAME1................. C.................. 40 ......... account. 7 Joint Customer Name............. Full name line 2 as it appears on deposit NAME2................. C.................. 40 ......... account. 8 Customer Street Address Line 1.. The first line of the customer's street ADDR1................. C.................. 40 ......... address as it appears on the statement. 9 Customer Street Address Line 2.. The second line of the customer's street ADDR2................. C.................. 40 ......... address as it appears on the statement. 10 Customer Street Address Line 3. The third line of the customer's street ADDR3................. C.................. 40 ......... address as it appears on the statement. 11 Customer City.................. Address city as it appears on statement. If CITY.................. C.................. 25 ......... this city is located in a foreign country, include the name of the country in this field, separated from the city by a comma and a space. 12 Customer State................. State postal abbreviation as it appears on STATE................. C.................. 2 ......... statement. 13 Customer Zip................... Address zip code as it appears on statement-- ZIP................... N.................. 9 ......... no hyphens. 14 Financial Institution's Account The Financial Institution's account types. Use FITYPE................ C.................. 4 ......... Type. any pertinent codes relevant to identifying the type of account. 15 Account Type Description....... Description of the Financial Institution's FIDESC................ C.................. 20 ......... account types. May also be used to describe class codes. 16 FDIC Account Type.............. FDIC Claim Types (e.g., DDA, SAV, CD, NOW, FDICTYPE.............. C.................. 4 ......... MMA, IRA, KEO (KEOGH), TRU (TRUST)). 17 GL Code........................ Financial Institution's GL code that the GLCODE................ C.................. 6 ......... account is aggregated to for GL accounting. 18 GL Code Description............ Description of Financial Institution's GL code GLDESC................ C.................. 20 ......... that the account is aggregated to for GL accounting. 19 Class Code..................... All codes identifying deposit account products CLASS................. C.................. 4 ......... on bank's system (may be the same as FITYPE). 20 Municipality................... Indicates account of state, county or MUNICIPAL............. C.................. 4 ......... municipal entity. 21 Current Account Balance........ Current principal account balance............. CURRBAL............... N.................. 15 2 22 Accrued Interest............... Accrued interest earned but not paid on the ACCRINT............... N.................. 15 2 account. Enter zero if not interest bearing. 23 Per Diem....................... Daily accrual amount or per diem. Enter zero PERDIEM............... N.................. 9 5 if blank or null. 24 Interest Paid Year-to-Date..... Interest paid year-to-date. Enter zero if not INTPYTD............... N.................. 15 2 interest bearing. 25 Interest Rate.................. Current interest rate applicable to account on RATE.................. N.................. 8 5 cutoff date. Rate is based on the current balance, not base rate. If minimum balance requirements are not met, rate is zero. 26 Original Date.................. Date account opened........................... ORIGDATE.............. D.................. 10 ......... 27 Maturity Date.................. Maturity date for all CDs and IRA accounts.... MATDATE............... D.................. 10 ......... 28 Interest Paid Through Date..... Date interest is paid through................. PDTHRUDT.............. D.................. 10 ......... 29 Collateral Account Number...... Loan account number for which this deposit LOANACCT.............. C.................. 16 ......... account is serving as collateral. 30 Overdraft Account Number....... Overdraft Protection account number this OPDACCT............... C.................. 20 ......... account is tied to. 31 Available Overdraft Protection Current available Overdraft Protection Balance AVAILOD............... N.................. 15 2 Amount. 32 Average Daily Balance.......... Average daily balance, maintained for the DAILYBAL.............. N.................. 15 2 current statement period (monthly, quarterly). [[Page 50436]] 33 Available Balance.............. Current available balance..................... AVAILBAL.............. N.................. 15 2 34 Hold Code...................... Hold code(s)/flag(s) indicating account HOLDCODE.............. C.................. 4 ......... secures a loan(s). 35 Hold Description............... Description of hold code(s)/flag(s) indicating HOLDDESC.............. C.................. 20 ......... account secures a loan(s) etc. 36 Hold Amount.................... Amount of hold(s)............................. HOLDAMT............... N.................. 15 2 --------------------------------------------------------------------------------------------------------------------------------------------------------
    3. Revise appendix B to part 331 to read as follows:

Appendix B to Part 331--Asset and Liability Backup Program 
Technical Instructions and Loan Extract File Format

Technical Instructions

FDIC Standard Loan Extract File Format

The FDIC Standard Loan Extract File Format

    The attached ``Loan Extract File Format'' is a list of fields 
developed as a tool for requesting information from an institution 
for the purposes of categorizing, analyzing and transmitting the 
loan portfolio and other related functions. Please match your 
institution's loan information field names to those on the ``Loan 
Extract File Format.'' For your convenience, descriptions of each 
field are provided.

Standard Loan Extract File Preferences

1. Information must be provided in an ASCII-flat, tab delimited 
file.
    (a) The preferred media is diskette, CD, ZIP Disk or fixed 
length 9-track tape.
    (b) All loan records should be included in one file. Separate 
files are acceptable in those cases where the information will not 
fit on the selected media type.
    (c) Diskette and CD files zipped with PKZIP or WINZIP are also 
acceptable.
    If information cannot be provided on preferred media, or you 
cannot provide the information in ASCII format, please contact Mr. 
James Murphy, at the FDIC's Dallas Field Operations Branch, 
Telephone No. (972) 761-2226, for possible alternatives.
2. Please provide ALL requested information if available.
3. Provide a record layout in a printout accompanying the file. The 
field order and field names are indicated. The field names are under 
the column heading `FDIC NAME'. Your record layout must include 
field order, field name, type (e.g. Character, Numeric), field 
length and decimal places (precision).
4. Do not duplicate records within the download.
5. Decimal points are to be included in the information provided, 
not implied (i.e., $10,300.75 will be provided as 10300.75; an 
interest rate of 8.45% will be provided as 08.45000). Please do NOT 
include packed or zoned decimals.
6. Date formats are to be MM/DD/YYYY and include the slashes (e.g., 
March 14, 2001 will be provided as 03/14/2001).
7. All information for each loan must be contained within one 
record.
    a. Participation sold information is not to be provided as a 
separate record (provide as separate field).
    b. Partial charge-off information is not to be provided as a 
separate record (provide as separate field).
    c. Completely charged-off loans and paid-off loans are not to be 
included in the download.
    d. Loans with partial charge-off are to be provided with 
balances net of partial charge-off.
8. All numeric fields are to be right justified. All character 
fields are to be left justified.
9. When the customer's mailing address is located in a foreign 
country, include the name of the country in the ``Borrower City'' 
field, separated from the city by a comma and a space (e.g., Paris, 
France).
10. All numeric value are deemed positive unless signed as negative 
(-). 
Loan Extract File Format --------------------------------------------------------------------------------------------------------------------------------------------------------
Information field Definition FDIC name Info type Info length Dec -------------------------------------------------------------------------------------------------------------------------------------------------------- 1 Borrower Name..................... The full legal name (Last Name, First NAME........................ C.................... 50 Name, MI) of the borrower (preferred). The information may also be provided in multiple fields (Last Name in field called NAME1, First Name in a field called NAME2, MI in a field called NAME3). 2 Borrower Short Name............... Abbreviated name assigned to each SHORTNAME................... C.................... 50 borrower. 3 Borrower Street Address Line 1.... The first line of the Borrower's ADDR1....................... C.................... 50 street address where the borrower's home or head office is located. 4 Borrower Street Address Line 2.... The second line of the Borrower's ADDR2....................... C.................... 50 street address where the borrower's home or head office is located. 6 Borrower Street Address Line 3.... The third line of the Borrower's ADDR3....................... C.................... 50 street address where the borrower's home or head office is located. 6 Borrower City..................... The city where the borrower's home or CITY........................ C.................... 40 head office is located. If this city is located in a foreign country, include the name of the country in this field, separated from the city by a comma and a space. 7 Borrower State.................... The state where the borrower's home or STATE....................... C.................... 2 head office is located. 8 Borrower Zip...................... The zip code where the borrower's home ZIP......................... C.................... 10 or head office is located. 9 CIF Number........................ Central Information File identifier. CIF......................... C.................... 15 The number that links all loan, deposit, and other accounts to the borrower. (This number may be the same as the Borrower ID Number). 10 Insider.......................... Indicates if the borrower is either an INSIDER..................... C, Y/N............... 1 insider of the bank or a related interest of an insider of the bank. If possible, indicate the type of insider (e.g., director, executive officer, principal shareholder, non- executive officer, or employee). 11 Tax ID Number.................... Taxpayer identification number of the TAXID....................... C.................... 11 primary account holder (e.g., 428-78- 1992 or 58-2345679 Include Hyphens). [[Page 50437]] 12 Accrued Interest................. Total amount of interest accrued and ACCRINT..................... N.................... 14 2 unpaid on a note/credit facility. 13 Amortizing or Non Amortizing Indicates if the note/credit facility AMORTCD..................... C, Y/N............... 1 Status. is amortizing or non-amortizing. 14 Branch ID........................ Identifies the branch location where BRANCH...................... N.................... 3 the note/credit facility was originated or is managed. Please indicate in your supporting documentation if this identification number is part of the note/credit facility number. 15 Charged-Off Amount............... The amount associated with the note/ CHGOFFAMT................... N.................... 14 2 credit facility that has been charged off. If the note/credit facility balances reported elsewhere are not net of charged-off amounts, please indicate this in your supporting documentation. 16 Co-Maker or Joint Maker.......... The name of the co-maker(s) or joint COMAKER..................... C.................... 50 maker(s) whose signature(s) appears on the promissory note or loan agreement. 17 Current Balance.................. The portion of the note/credit CURRBAL..................... N.................... 14 2 facility that appears as an asset on the bank's General Ledger. This balance is net of all participations sold, charge-off, and specific reserves. 18 Number of Days Past Due.......... If interest or principal is DAYSLATE.................... N.................... 4 delinquent, indicate the number of days delinquent. If both are delinquent, indicate the larger of the two numbers. 19 Dealer Code...................... The code identifying loans accepted DEALERCD.................... C.................... 5 from auto, mobile home, or other sales agents. 20 Dealer Name...................... Dealer Name........................... DEALNAME.................... C.................... 50 21 Dealer Reserve Balance........... The amount of the dealer reserve held DEALERRES................... N.................... 14 2 in conjunction with the applicable account. 22 Escrow Balance................... The amount currently held in escrow ESCRBAL..................... N.................... 14 2 for payment to third parties, such as insurance and real estate taxes. 23 Guarantor or Endorser Name....... Name of the individual or entity that GTYNAME..................... C.................... 50 guarantees, in part or in full, the borrower's note. 24 Index............................ The specific underlying market index INDEX....................... C.................... 10 used to calculate the interest rate of an adjustable rate note/credit facility (i.e. LIBOR, Wall Street Prime, Cost of Funds Index, One-Year Treasury Bill). 25 Interest Rate.................... The interest rate currently applicable RATE........................ N.................... 8 5 to the note/credit facility. If the interest rate is variable, indicate the current rate (e.g., 7.25%, not Prime + 1). 26 Interest Paid to Date............ Amount of interest collected since INTPAID..................... N.................... 14 2 origination or other institution- defined time period. 27 Interest Rate Reset Interval..... The time between periodic reset dates RTCHGFRQ.................... N.................... 3 for variable or adjustable rate loans. 28 Interest Rate Reset Date......... The next periodic reset date for RESETDTE.................... D.................... 10 variable or adjustable rate loans. 29 Last Payment Date................ Date the last payment was made........ LASTPMT..................... D.................... 10 30 Last Renewal..................... Date on which the legally binding note/ LASTRENEW................... D.................... 10 credit facility was extended or renewed, even if principal reductions have been made. 31 Late Charges..................... Late charges that are currently due... LTCHGBAL.................... N.................... 14 2 32 Lifetime Interest Rate Cap....... The upper limit on the interest rate RTCEIL...................... N.................... 8 5 that can be charged over the life of the loan. 33 Lifetime Interest Rate Floor..... The lower limit on the interest rate RATEFL...................... N.................... 8 5 that can be charged over the life of the loan. 34 Maturity Date.................... The date on which the legally binding MATDATE..................... D.................... 10 note/credit facility matures. 35 Mortgage Loan Type............... For real estate loans, indicates if MTGTYPE..................... C.................... 15 the note/credit facility is secured by a first lien on single-family residential real estate. 36 Next Payment Date................ Date the next scheduled payment is due NXTDUEDT.................... D.................... 10 37 Non-accrual...................... Indicates if the note/credit facility NONACCRCD................... C Y/N................ 1 is on non-accrual status. 38 Note Number or Credit Facility The number used by the bank to ACCTNO...................... C.................... 15 Number. uniquely identify a note/credit facility. 39 Note Type or Credit Facility Type A code representing the type of loan. LOANTYPE.................... C.................... 5 May correspond to the FFIEC Report of Condition. 40 Note Type or Credit Facility Type A description of the code representing TYPEDESC.................... C.................... 15 Description. the type of loan. 41 Number of Payments............... The number of payments specified in PAYNUM...................... N.................... 3 the loan agreement or note. 42 Number of Extensions............. The number of times the loan has been EXTENDS..................... N.................... 2 extended beyond original maturity date. [[Page 50438]] 43 Original Balance................. The amount of the note or credit ORIGAMT..................... N.................... 14 2 facility that has been executed. If a note/credit facility has been renewed one or more times and the original amount is not available, provide the amount most recently executed. 44 Original Date.................... The date your institution extended ORIGDATE.................... D.................... 10 credit to the borrower. Date should be consistent with the information provided for original balance. 45 Payment Amount................... Amount of regularly scheduled payments PAYAMT...................... N.................... 14 2 46 P&I Payment...................... Amount of regularly scheduled P&I PIAMT....................... N.................... 14 2 payments. 47 Payment Frequency................ The frequency payments are due to the PAYFREQ..................... C.................... 15 bank (i.e. monthly, quarterly, annually). 48 Periodic Interest Rate Cap....... For variable or adjustable rate loans, PRTCAP...................... N.................... 8 5 the maximum percentage points that the rate may change each reset interval. 49 Basis Code........................ Day basis on which interest BASIS....................... C.................... 12 calculations are made (e.g., 3/360, Actual/360, etc.). 50 Revolving Line of Credit.......... Indicates if the loan is a revolving REVCODE..................... C.................... 5 line of credit. 51 Security Perfection Date.......... The date that the last security PERFDATE.................... D.................... 10 interest, lien, or UCC-1 was perfected. 52 Times Past Due 30-59 Days......... Number of times the note/credit LATE30...................... N.................... 4 facility has been past due 30-59 days during the last 12 months of the loan. 53 Times Past Due 60-89 Days......... Number of times the note/credit LATE60...................... N.................... 4 facility has been past due 60-89 days during the last 12 months of the loan. 54 Times Past Due 90+ Days........... Number of times the note/credit LATE90...................... N.................... 4 facility has been past due 90 or more days during the last 12 months of the loan. 55 Total Commitment.................. The sum of the outstanding balance and CREDLMT..................... N.................... 14 2 the undisbursed amount legally available to be drawn upon. 56 Troubled Debt Restructured Code... Code indicating if the note/credit RTDCODE..................... C Y/N................ 1 facility is considered to be a troubled debt restructure. 57 Unfunded or Undisbursed Balance... The amount legally available under a UNFUNDED.................... N.................... 14 2 note/credit facility that has not been disbursed. 58 Variable Rate Code................ Code indicating adjustable, floating, RATECODE.................... C.................... 5 or variable interest rate. 59 Variable Rate Description......... Description of code indicating RATEDESC.................... C.................... 15 adjustable, floating or variable interest rate. 60 Collateral Code................... The code associated with a unique COLLCODE.................... C.................... 5 collateral type (i.e. commercial real estate, 1-4 family real estate, UCC filings, marketable securities). 61 Collateral Description............ The narrative description of COLLDESC.................... C.................... 50 collateral or a description Referencing a collateral code. The collateral code for each description must be included in a separate table. 62 Collateral State.................. State in which the collateral is COLSTATE.................... C.................... 2 located. 63 Collateral Value.................. The total value assigned to the APPRLAMT.................... N.................... 14 2 collateral. If the bank has adjusted this value, please indicate this in your supporting documentation. 64 Collateral Valuation or Appraisal Date collateral was last appraised or APPRDATE.................... D.................... 10 Date. valued. 65 Insurance Code/Flag............... A code indicating the status of INSCODE..................... C.................... 5 insurance covering collateral for a note/credit facility. 66 Insurance Expiration Date......... The date that the related insurance INSEXP...................... D.................... 10 policy covering bank collateral expires. 67 Lien Status....................... The priority lien held by this bank LIENCODE.................... C.................... 10 (i.e. 1st lien, 2nd lien). 68 Participating Institution Code.... Code indicating the institution INVESTOR.................... C.................... 5 participating in the credit. If the credit is sold to multiple institutions, please indicate this in your supporting documentation. 69 Participating Institution Description of the code indicating the INVDESC..................... C.................... 50 Description. institution participating in the credit. If the credit is sold to multiple institutions, please indicate this in your supporting documentation. 70 Participation Amount.............. The current outstanding dollar amount PARTSOLD.................... N.................... 14 2 of the loan sold to or purchased from another institution. 71 Participation Code................ A code indicating that the loan/credit PARTTYPE.................... C.................... 5 facility involves a participation purchased or sold. Please identify the purchased and sold codes. 72 Participation Code Description.... Description of the code indicating PARTDESC.................... C.................... 15 that the loan/credit facility involves a participation purchased or sold. 73 Participation Sold Original Amount The original amount of the loan PARTORG..................... N.................... 14 2 participation sold or purchased. [[Page 50439]] 74 Rebate Flag....................... Flag indicating there is any kind of REBATE...................... C Y/N................ 1 rebate associated with the account. (i.e. insurance, interest etc.). -------------------------------------------------------------------------------------------------------------------------------------------------------- [FR Doc. 99-24225 Filed 9-16-99; 8:45 am] BILLING CODE 6714-01-P
Last Updated 09/20/1999 communications@fdic.gov