FDIC Federal Register Citations

[Federal Register: June 9, 1999 (Volume 64, Number 110)]

[Rules and Regulations]

[Page 30869-30880]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr09jn99-3]

=======================================================================

-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 331

RIN 3064-AC23

Asset and Liability Backup Program

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Interim final rule; request for comment.

-----------------------------------------------------------------------

SUMMARY: The FDIC is adopting an interim final rule to require 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, this rule requires those

insured depository institutions receiving Y2K 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 automatically sunset on June 30, 2000, and will no longer be

applicable after that date. An affected institution will be exempted

from the ALBP rule if its primary federal regulator provides a written

determination to the Executive Secretary, FDIC, that the ALBP is not

needed.

DATES: This interim final rule will be effective July 9, 1999. Comments

must be received by July 9, 1999.

ADDRESSES: Send written comments to Robert E. Feldman, Executive

Secretary, Attention: Comments/OES, Federal Deposit Insurance

Corporation, 550 17th Street NW, Washington, DC 20429. Comments may be

hand-delivered to the guard station located at the rear of the

[[Page 30870]]

17th Street building, on F Street, on business days between 7:00 a.m.

and 5:00 p.m. The FAX number is (202) 898-3838 and the Internet address

is comments@fdic.gov. Comments may be inspected and photocopied at the

FDIC Public Information Center, Room 100, 801 17th Street NW,

Washington, D.C., between 9:00 a.m. and 4:30 p.m. on business days.

FOR FURTHER INFORMATION CONTACT: Division of Resolutions and

Receiverships: James E. Crum, Manager, Information Systems Section

(202) 898-6698; Daniel L. Walker, Manager, Franchise Marketing, Dallas

Field Office Branch (972) 761-2215; Herbert J. Held, Assistant

Director, Institutional Sales (202) 898-7329. Legal Division: Nancy

Schucker Recchia, Counsel (202) 898-8885; David Fisher, Counsel (202)

898-3503, Federal Deposit Insurance Corporation, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

I. Background

A. Introduction

Under the auspices of the Federal Financial Institutions

Examination Council (FFIEC), the FDIC, the Board of 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. The

banking industry has invested substantial resources to ready itself for

the millennium date change. More than 98% of the nation's banks and

thrifts have achieved ``Satisfactory'' Y2K-readiness ratings from their

primary federal regulators. As time goes by, more institutions achieve

this milestone. 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 is always 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 is proposing 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 of an affected

institution's placement in receivership due to a Y2K-related problem,

these standardized backup programs will provide the FDIC access to

essential basic account information and eliminate the need to map and

convert information for theY2K closing of an affected institution

before account reconciliation and deposit insurance determination can

begin. The rule will enable depositors to access their accounts quickly

and accurately through a deposit transfer or pay-out. The rule will

expedite the transfer or sale of the institution's assets to a

purchaser, asset manager or service provider. 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.

B. The Rule's Benefits

1. The Rule Will Maintain Confidence in the Industry

Congress created the FDIC in 1933 to restore public confidence in

the nation's banking system at a time of severe financial stress. For

over 65 years FDIC deposit insurance has helped ensure the stability of

the financial system by providing for the timely and accurate funding

of insured deposits and the consequent confidence in the U.S. banking

system in times of financial stress. The FDIC's ability to make insured

deposits available expeditiously, and resolve failed institutions

quickly, was critical during the bank and thrift crisis of the 1980s

and early 1990s. Despite the many bank and thrift closings during that

period, there were no serious runs on, or credit flow disruptions at,

FDIC-insured institutions. Most important, no depositors suffered any

loss of their insured deposits. The rule ensures that the FDIC will be

able to honor its deposit insurance commitments in a timely and

accurate manner if an affected insured depository institution should be

closed because of a Y2K problem.

One of the potential challenges the FDIC must prepare for is the

possible inability to access the business systems and supporting

information of an insured depository institution that must be closed

because of a Y2K problem. The ultimate safety net will be FDIC deposit

insurance and the FDIC's commitment to provide access to insured funds

expeditiously. FDIC deposit insurance is absolute--insured deposits are

safe. The number of days that it will take the FDIC to provide access

to deposits and transfer assets to private sector purchasers, asset

managers or service providers will depend upon its ability to transfer

basic account information from one institution to another. The FDIC can

assure the public that if an affected institution that maintains ALBPs

in compliance with the rule should close because of a Y2K problem,

depositors will have expeditious access to their insured deposits and

the institution will be resolved as quickly as possible.

2. The Rule Assures That Depositors Will have Expeditious Access to

Insured Deposits

As the federal insurer of deposits in more than 10,000 banks and

thrifts, the FDIC, through the deposit insurance funds it administers,

is statutorily required to pay insured deposits as quickly and

accurately as possible when an insured bank or thrift is closed.\1\ In

the event that an insured depository institution is closed, the FDIC

would be responsible for providing depositors access to their insured

deposits as quickly and accurately as possible. Public confidence in

the financial system will depend upon the FDIC's ability to effect such

funding as quickly and accurately as possible. Historically, the FDIC

has provided depositors with access to their insured deposits within

one to three days of an institution closing.

---------------------------------------------------------------------------

\1\ 12 U.S.C. 1821(f)(1).

---------------------------------------------------------------------------

The rule requires affected institutions to create daily extract

files of information, beginning on December 24, 1999, concerning

deposit accounts following a standard format specified by the rule. The

necessary information will be readily available to the FDIC only if an

institution's business systems are unable to accurately receive,

process and produce deposit balances and transactions because of a Y2K

problem. Because the FDIC will not have to convert the information to

fit its systems, potential delay in making insurance determinations and

returning insured deposits to depositors will be minimized. The FDIC

will rely upon the liability backup program to efficiently determine

insured account balances, and quickly and accurately transfer or

[[Page 30871]]

pay out such amounts for the benefit of depositors.

3. The ALBP Constitutes an Essential Component of Y2K Contingency

Planning

ALBPs are an essential part of Y2K contingency planning worldwide.

The Basle Committee on Banking Supervision, in its recent paper on Y2K

contingency planning, stated:

As with existing disaster recovery plans, data integrity

procedures are critical to ensuring that adequate and consistent

data are available in the event of a technological failure. The

procedures may address both mission-critical and other systems. They

should address the issue of recovery difficulties associated with

institutions of all types and should preserve sufficient historical

mission-critical data to enable records to be accurately

reconstructed after the century date change in the event that data

is corrupted.

While all banks will already have back-up procedures that they

consider adequate in normal circumstances, there are special

features of the Year 2000 challenge that merit extra attention.

Supervisors should issue a mandate that banks within their

jurisdiction maintain specified back-up records in electronically

retrievable media for certain periods or key dates. These records

may be a specification of the minimum data elements and format to

capture certain assets, liabilities, and income accounts. It is

essential that all processes for creating back-up data files are

completed before the millennium date change or other potentially

sensitive dates and be thoroughly tested. Whatever happens, it is

essential to have back-up which has the certainty to provide a clear

audit trail and enable the bank, an acquirer, or a receiver to

reconstruct corrupt records. Some supervisors may wish to assure

depositors and other bank customers that they will verify the safety

of banks' back-up arrangements.

Year 2000 The Supervisory Contingency Planning Process, January 1999,

at 4, 5. The ALBP rule is consistent with the Basle Committee's

recommendation.

4. The Rule Will Minimize Resolution Costs

The FDIC is statutorily required to resolve closed insured

depository institutions in the manner that is least costly to the

insurance funds.\2\ FDIC experience has shown generally that the more

quickly an institution can be resolved, the greater the franchise and

asset/liability value to be realized from the sale of that institution.

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.\3\

---------------------------------------------------------------------------

\2\ 12 U.S.C. 1823(c)(4).

\3\ The FDIC's responsibility as insurer is carried out by the

assessment and collection of premiums from insured depository

institutions, the administration of the deposit insurance fund

resulting from such assessments, and the timely and accurate funding

of claims for insured deposits in a closed institution. When the

FDIC funds insured deposits, it becomes subrogated to the claims of

the insured depositors. Proceeds from the sale of the institution

and its assets are returned to the FDIC as subrogee to the

depositors.

---------------------------------------------------------------------------

By facilitating the timely resolution of an affected institution

and the prompt servicing of any assets not sold at resolution, the rule

will maximize the value of the institution and its assets. The value of

an institution will be enhanced by this rule because the information

will already be available to the FDIC or a purchaser in a pre-defined,

useable format. Fewer FDIC or acquiring institution personnel will be

needed to receive, interpret, map, and distribute information, thereby

further reducing costs of resolution.

5. The Rule Will Expedite the Return of Assets to the Marketplace and

Minimize Customer Disruptions

The FDIC is responsible for the sale or liquidation of all assets

of a bank or thrift for which it is appointed receiver. It is generally

preferable for bank customers and the financial system to keep bank and

thrift assets in the private sector where they can continue to perform

without disruption. For these reasons, the FDIC attempts to sell as

many assets of a closed institution as possible as part of a closed

bank or thrift resolution transaction.

The asset backup program 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. This

information will enable purchasers to establish communication with

borrowers and maintain important account relationships. Without

accurate information related to loans, such as the rule requires,

purchasers are unlikely to risk acquiring a bank's assets.

Where there are no immediate purchasers for a closed institution's

assets, the FDIC acts as quickly as possible to transfer loans to an

asset manager or a service provider or to begin servicing the loans

itself. To minimize loss to the assets' value, it is critical that such

servicing occur with minimal disruption. Both FDIC and private sector

asset managers and servicers require loan information similar to that

of a purchaser.

Because the acquisition and servicing of assets requires more

information than deposit accounts, the rule requires additional

standardized fields of information for loans. The information required

by the rule is the minimum number of fields necessary for a purchaser

or the FDIC to make timely and accurate determinations of estimated

asset values, portfolio compositions and for planning conversions to

Y2K-ready purchasers, asset managers or service providers. Similarly,

before it is placed in receivership, the ALBP files may help an

affected institution transfer its loan accounts to a temporary servicer

while it repairs its systems.

6. The Rule Facilitates Addressing Y2K Technical Problems

The FDIC has developed, and is adopting, separate standardized

backup programs for deposits and loans. Use of these standardized

backup programs will make available a consistent set of information,

increasing the possibility that the FDIC or an acquiring institution

can readily process a closed institution's deposit or loan information.

When ownership of an insured depository institution changes hands,

whether in a commercial transaction or a FDIC-assisted transaction,

detailed account information is converted from the electronic data

processing (EDP) systems of the acquired institution to the EDP systems

of the purchaser. Conversion of information from one system to another

normally requires several months to accomplish as the process involves

extensive research into the manner that information is provided,

processed, reported and used. During this time, the two systems

continue to be operated side-by-side until such time as the steps are

in place for conversion of the information to a purchaser's systems;

detailed information as to the programming language and record layout

used by the originating EDP systems to store information is also

acquired; programs to translate the coded information readable by one

system into coded information recognized by another system are written;

and the information is transferred and tested before use in the new

electronic data processing systems.

Few depository institutions use the same format for their

information. The specific information fields, field lengths, and

software differ from institution to institution. The mapping process

requires time and information code definitions. As part of the

conversion process, the FDIC must map the failing institution's

information fields to the

[[Page 30872]]

correct information fields in its own systems. In addition, information

may be grouped in one field in one system and separated in multiple

fields in another system. The information fields must conform to the

new system. Use of the ALBPs will expedite this process as programs can

be written in advance to convert the ALBP record layouts into the

format needed for the various applications used by the FDIC in the

resolution process.

The standard layouts of the ALBP will allow purchasers of closed

affected institutions to pre-map the incoming file specifications to

their own record layouts, thus avoiding delays that would otherwise be

necessary if a purchaser had to input account information manually, or

map the closed institution's information to its own system and then

write a conversion program. In a non-Y2K closing, an acquiring

institution would be able to use the closed institution's systems, but

this may not be an option in a Y2K closing. Institutions and service

bureaus interested in providing short-term and long-term support to

institutions with Y2K-related problems can use the ALBP files to

facilitate the transfer of account data to their compliant systems.

This may provide extra protection for the continuation of financial

services before FDIC resolution action is required.

C. The Rule Places Minimal Burden on the Industry

The rule requires affected institutions to be able to provide

electronic files of limited fields of information already maintained by

those institutions in a standardized format, for a limited period of

time. To minimize burden and recognize the efforts of most financial

institutions, only those insured depository institutions that have a

higher degree of Y2K risk must comply with the rule. Information will

be reorganized, not created. There are no new reports required 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 new millennium to the satisfaction of the institution's primary

federal regulator, the rule will no longer be applicable to that

institution. The rule will sunset on June 30, 2000.

There will be minimal costs for the programming and processing

associated with creating and maintaining the ALBPs. Production of the

information may require creating extract files of standard information

from multiple systems (e.g., demand deposit account systems and time

deposit account systems). Some institutions may have to adjust their

electronic data processing production schedules to accommodate these

additional tasks. Based upon the results of the FDIC's survey of the

industry discussed below, the FDIC believes that these minor costs

represent a prudent investment in Y2K contingency planning.

To minimize the burden of this rule, each affected institution is

permitted to extract and retain the required information in the manner

that is most cost effective for that institution. The institution may

choose to extract the requisite information as part of its normal

nightly processing production runs or from routine nightly backup

programs. In either case, the institution must demonstrate to the FDIC

that it has segregated and preserved the information so that it may be

obtained using hardware and software located separately from the

institution's primary system. If the institution chooses to extract the

information as part of its normal nightly processing production runs,

the institution must store the files each night beginning December 24,

1999 until the ``termination date.'' Alternatively, if the institution

chooses to extract the data from routine nightly backup programs, the

institution may choose to store the ALBPs each night as set forth above

or demonstrate to the FDIC the ability to produce on demand the files

for each night from December 24, 1999, through the termination date.

The FDIC has limited the duration of this rule to the shortest time

period possible. The termination date for the requirements of this

regulation for any affected institution is the earlier of (i) the date

on which the institution's primary federal regulator changes the

institution's Y2K readiness rating to Satisfactory; or (ii) the date on

which the institution establishes to the satisfaction of its primary

federal regulator that its deposit and loan systems are fully

functional and reliable after December 31, 1999; or (iii) June 30,

2000.

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 approximately $10,500

per service provider or software vendor customer. Overall, the total

cost burden to the 205 institutions rated as less than Satisfactory as

of May 21, 1999, is estimated to be $3,000,000. The FDIC assumed that

on average each service provider or software vendor offered at least

two product lines and serviced five customers affected by this

regulation per product line, thus allocating their costs across each

affected institution. The FDIC believes that the burden of these costs

is far outweighed by the benefits to be obtained.

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 its proposed 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 FDIC believes that it is appropriate for affected institutions

to pay for their own programming costs because the burden of the rule

applies only to those demonstrating the highest risk of not being Y2K

ready and therefore present a greater risk to the deposit insurance

funds. The rule also provides additional incentives for such

institutions to improve their preparedness and soundness to avoid

requirements imposed by the ALBPs.

It is necessary that the standardized backup programs be in place

pre-millennium in order to ensure that the ALBP data will be available

as of January 1, 2000. The rule requires affected institutions to

complete programming of the ALBP file formats by September 30, 1999.

Programming of the ALBP files must begin by early August 1999, to allow

establishment of

[[Page 30873]]

the system requirements, analysis and design, and internal testing of

the file production programs. No later than October 31, 1999, each

affected institution will submit to the FDIC a sample of the deposit

and loan files created using the backup programs and containing test

data meeting the ALBP specifications. This will allow the FDIC

sufficient time to test the accuracy of the file formats and coordinate

any required modifications to bring the formats into compliance with

the rule. A key benefit of the ALBPs is to allow the FDIC to quickly

and accurately make insured deposit determinations, estimate asset

valuations and facilitate the transfer of information to the electronic

data processing systems of the FDIC or a purchaser of a closed

institution. Therefore, it is essential that the file formats be

certified as compliant with the rule before January 1, 2000.

II. Discussion

A. Affected Institutions

Section 331.1 of the rule sets forth those insured depository

institutions to which the rule applies (affected institutions). The

rule applies to all insured depository institutions as that term is

defined at 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 had 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). Prior to 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 earlier of the date on which the institution's

primary federal regulator verifies that the institution's systems are

Y2K ready or June 30, 2000.

B. Exemption

Section 331.2 of the rule provides that an affected institution

will, without application, 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 would 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.

C. Asset and Liability Backup Program Requirements

Sections 331.3(b) and (c) of the rule require all affected

institutions to prepare and retain daily extract files of information

concerning deposit accounts and loan accounts. The specifications for

the deposit ALBPs are contained in appendix A; the specifications for

the loan ALBPs are contained in appendix B. The rule requires the

institution to segregate and preserve all daily extract files created

in compliance with the rule so that they can be obtained using hardware

and software located separately from the institution's primary

electronic data processing system. This will ensure that the ALBP data

will be accessible if the affected institution experiences a Y2K

problem. Affected institutions may choose whether to prepare the daily

extract file as part of the institution's normal nightly processing

production runs or from routine nightly backup programs. If the

institution prepares its daily extract files as part of its normal

nightly processing production runs, it must store the files each night

beginning December 24, 1999, through the termination date. If the

institution chooses to prepare its daily extract files from routine

nightly backup programs it must either store the files each night as

set out above, or it may demonstrate to the FDIC that it is able to

produce to the FDIC, upon demand, the daily extract files for each

night from December 24, 1999, through the termination date.

Section 331.3(d) of the rule specifies a ``termination date,''

after which the requirements of the rule do not apply to an affected

institution. The termination date is (1) the date on which the

institution's primary federal regulator changes the institution's Y2K

rating to Satisfactory; (2) the date on which the institution

establishes to the satisfaction of its primary federal regulator that

its deposit and loan systems are fully functional and reliable after

December 31, 1999; or (3) June 30, 2000. The first termination date

recognizes that an institution that is rated less than satisfactory on

July 31, 1999, or thereafter, may improve its readiness so that it is

rated Satisfactory. Such an institution would be required to comply

with the regulation as long as it was rated less than Satisfactory;

however, once the primary federal regulator changed its rating to

Satisfactory, the institution would have no further obligations under

the rule. For those institutions that enter the millennium with a less

than Satisfactory rating, the second termination date requires them to

comply with the rule until they establish that their deposit and loan

systems are fully functional and reliable in Y2K. The rule will sunset

on June 30, 2000, and its requirements will no longer apply to any

affected institution.

These ALBP requirements will ensure that information is available

if an affected institution's business systems are unable to receive,

process, and produce deposit and loan balances and transactions in a

timely and accurate manner due to a Y2K problem. The ALBPs include the

minimum number of fields necessary for (1) the FDIC to make timely and

accurate determinations of estimated insured deposits, asset values and

portfolio compositions, and (2) potential purchasers, asset managers

and service providers to move quickly to transfer and set up loan and

deposit accounts from the closed institution, convert the closed

institution's systems to their own, and implement a timely relationship

with the new customers.

D. Programming and Testing

Section 331.4 of the rule requires each affected institution to

program and test its ALBPs. In order to provide sufficient time to make

necessary corrections to the ALBP, the rule requires each institution

to complete its programming and testing by September 30, 1999, and to

provide a sample output file composed of at least ten test records

containing test data meeting the ALBP criteria to be delivered to the

FDIC no later than October 31, 1999. The FDIC will use these test files

only to verify that the ALBP complies with this rule. If an institution

that had been rated Satisfactory in Y2K readiness as of July 31, 1999,

receives a less than Satisfactory rating subsequent to that date, the

FDIC will determine the timetable by which the institution must

complete the programming, testing and correction of the ALBP.

E. Supporting Documentation

Section 331.5 of the rule requires institutions providing ALBPs to

the FDIC to also provide narratives

[[Page 30874]]

describing the process by which the ALBPs were produced and a trial

balance or other hard copy report summarizing the contents of the

electronic files. These documents will allow the FDIC to ensure that it

is properly interpreting the information provided in the ALBPs.

F. Sunset Date

Section 331.6 of the rule specifies its sunset date as June 30,

2000. The FDIC believes that any Y2K problem posing significant risk

will have been manifested and resolved by that time.

III. Authority for the Regulation

This regulation is authorized by the FDIC's general rulemaking

authority and pursuant to its fundamental responsibilities to ensure

the safety and soundness of insured depository institutions and act as

receiver or conservator of those institutions as required by law.

Specifically, 12 U.S.C. 1819(a) Tenth provides the FDIC with

general authority to issue such rules and regulations as it deems

necessary to carry out the statutory mandates of the Federal Deposit

Insurance Act (FDI Act) and other laws that the FDIC is charged with

administering or enforcing. 12 U.S.C. 1819(a) Seventh permits the FDIC

to exercise incidental powers related to those granted in the FDI Act.

One of the FDIC's fundamental powers is to ensure the safety and

soundness of insured depository institutions pursuant to 12 U.S.C.

1818(a) and (b). The FDI Act also empowers the FDIC to act as receiver

or conservator for insured depository institutions in the event of

insolvency and permits the FDIC to promulgate rules related to the

conduct of conservatorships or receiverships and implement certain

other requirements set forth in section 11 of the FDI Act. (12 U.S.C.

1821).

IV. The Administrative Procedure Act

The FDIC is adopting this regulation as an interim final rule

effective thirty days after publication in the Federal Register 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 has found that promulgation of this regulation on an

expedited basis is 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 of the backup program files must begin by early August

1999, to allow establishment of the system requirements, analysis and

design, and internal testing of the file production programs.

Subsequently, the FDIC 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 be detrimental to the efforts of the regulatory agencies and the

banking industry to prepare for potential problems caused by the Y2K

date change.

V. Regulatory Flexibility Analysis

The Regulatory Flexibility Act, 5 U.S.C. 601-612, requires an

agency to publish an initial regulatory flexibility analysis, except to

the extent provided in 5 U.S.C. 605(b), whenever the agency is required

to publish a general notice of proposed rulemaking for a proposed rule.

For good cause discussed above, the FDIC is publishing this rule as an

interim final rule, for which publication of a general notice of

proposed rulemaking is not necessary. No initial regulatory flexibility

analysis is required.

VI. Paperwork Reduction Act

The collection of information contained in this interim final rule

has been submitted to the Office of Management and Budget (OMB) for

review and approval in accordance with the requirements of the

Paperwork Reduction Act of 1995 (PRA), 44 U.S.C. 3501, et seq. OMB is

required to make a decision concerning the collection of information

contained in the interim final regulation between 30 and 60 days after

the publication of this document in the Federal Register. Therefore, a

comment to OMB is best assured of having its full effect if OMB

receives it within 30 days of this publication. This does not affect

the deadline for the public to comment to the FDIC on the interim final

regulation.

Comments are invited on (a) whether the collection of the required

information is necessary for the proper performance of the FDIC's

functions, including whether the information has practical utility; (b)

the accuracy of the estimates of the burden of the information

collection; (c) ways to enhance the quality, utility, and clarity of

the information to be collected; and (d) ways to minimize the burden of

the information collection, including through the use of automated

collection techniques or other forms of information technology.

Comments should be addressed to the Office of Information and

Regulatory Affairs, Office of Management and Budget, Attention: Desk

Officer Alexander Hunt, New Executive Office Building, Room 3208,

Washington, DC 20503, with copies of such comments to Steven F. Hanft,

Assistant Executive Secretary (Regulatory Analysis), FDIC, Room F-4062,

550 17th Street, N.W., Washington, DC 20429.

Title of the collection: All comments should refer to ``Asset and

Liability Backup Program.''

Summary of the collection: This new requirement 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 September 30, 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.

[[Page 30875]]

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.

Estimated annual burden resulting from this proposed 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: 205.

Average number of hours per respondent: 131.4.

Total annual burden hours: 26,945.

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 70 hours per institution to

2,500 per institution.

VII. Small Business Regulatory Enforcement Fairness Act

The Office of Management and Budget has determined that this

interim 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 will file the appropriate reports with Congress and the General

Accounting Office so that the interim final rule can be reviewed.

VIII. 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).

By order of the Board of Directors.

Dated at Washington D.C., this 3rd day of June, 1999.

Federal Deposit Insurance Corporation.

Robert E. Feldman,

Executive Secretary.

List of Subjects in 12 CFR Part 331

Bank deposit insurance, Banks, banking, Reporting and recordkeeping

requirements, Savings associations.

For the reasons stated in the preamble, a new part 331 is added to

chapter III of title 12 of the Code of Federal Regulations to read as

follows:

PART 331--ASSET AND LIABILITY BACKUP PROGRAM

Sec.

331.1 Affected institutions.

331.2 Exemption.

331.3 ALBP requirements.

331.4 Programming and testing required.

331.5 Supporting documentation required.

331.6 Sunset of program.

Appendix A to Part 331--Asset and Liability Backup Program Technical

Instructions and Deposit Extract File Format

Appendix B to Part 331--Asset and Liability Backup Program Technical

Instructions and Loan Extract File Format

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

Tenth), 1821.

Sec. 331.1 Affected institutions.

The provisions of this part 331 apply to all insured depository

institutions, as defined in 12 U.S.C. 1813(c)(2), that are rated as

less than Satisfactory in Y2K readiness by their primary federal

regulator on or after July 31, 1999 (affected institutions), until the

termination date specified in Sec. 331.3(d).

Sec. 331.2 Exemption.

An affected institution will, without application, be exempted by

the FDIC from the requirements of this part 331 upon a written

determination made by, and in the sole discretion of, its primary

federal regulator that the asset and liability backup program (ALBP) is

not needed for that institution. Such written determination shall be

submitted to the Executive Secretary, FDIC. In the case of an FDIC-

regulated affected institution, the Director of the Division of

Supervision, or designee, shall have the authority to waive the

requirements of this part 331 upon a written determination submitted to

the Executive Secretary, FDIC, that the ALBP procedures are not needed

for that institution.

Sec. 331.3 ALBP requirements.

(a) ALBPs required. (1) All affected institutions shall prepare and

retain daily extract files of information concerning:

(i) Deposit accounts following the ALBP format specified in

appendix A to this part 331; and

(ii) Loan accounts following the ALBP format specified in appendix

B to this part 331.

(2) All daily extract files shall be segregated and preserved so

that they can be obtained using hardware and software located

separately from the institution's primary information processing

system.

(b) Preparation of the daily extract files. Each affected

institution shall prepare its daily extract files either--

(1) As part of the institution's normal nightly processing

production runs; or

(2) From routine nightly backup programs.

(c) Retention of daily extract files. Each daily extract file shall

be retained in one of three media meeting the specifications contained

in appendices A and B to this part 331, until the termination date.

(1) If the institution prepares its daily extract files as part of

its normal nightly processing production runs under Sec. 331.3(b)(1),

the institution must store the files each night beginning December 24,

1999, through the termination date specified in Sec. 331.3(d).

(2) If the institution prepares its daily extract files from

routine nightly backup programs under Sec. 331.3(b)(2), the institution

shall either retain the daily extract files each night as set forth in

Sec. 331.3(c)(1), or demonstrate to the FDIC its ability to produce to

the FDIC, upon demand, the daily extract files for each night from

December 24, 1999, through the termination date specified in

Sec. 331.3(d).

(d) Termination date. (1) The termination date of the ALBP

requirement for any affected institution is the earlier of:

(i) The date on which the institution's primary federal regulator

changes the institution's Y2K rating to Satisfactory;

(ii) The date on which the institution establishes to the

satisfaction of its primary federal regulator that its deposit and loan

systems are fully functional and reliable after December 31, 1999; or

(iii) June 30, 2000.

(2) An affected institution that wishes to receive verification

under paragraph (d)(1)(ii) of this section shall make its request to

the primary federal regulator in writing.

Sec. 331.4 Programming and testing required.

Programming and testing of the required ALBP extract files shall be

completed by each affected institution by September 30, 1999. A sample

output file with at least ten (10) records containing test information

meeting the ALBP criteria shall be delivered to the FDIC no later than

October 31, 1999, in accordance with the instructions contained in

appendices A and B to this part 331. The FDIC will test the sample

output file against the specifications contained in appendices A and B

of this part 331. Corrections of any identified errors must be made,

and a new sample output file provided to the FDIC, within fifteen (15)

days of receipt of notice of such errors from the FDIC. For any

institution that receives a less than Satisfactory rating after July

31, 1999,

[[Page 30876]]

the FDIC will determine the completion and delivery dates under this

section.

Sec. 331.5 Supporting documentation required.

In addition to the files submitted to the FDIC under Sec. 331.4,

the institution shall submit the following supporting documentation:

(a) A narrative describing the process by which the daily extract

files were produced; and

(b) A trial balance or other hard copy summary of the contents of

the electronic files to permit the FDIC to verify the accurate receipt

and interpretation of the information transmitted to the FDIC.

Sec. 331.6 Sunset of program.

The ALBP procedures contained in this part 331 shall not be

required after June 30, 2000.

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 where possible.

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 should be included in the information provided,

not implied (i.e., $10,300.75 should be provided as 10300.75, interest

rate of 8.45% should be provided as .0845). Please do NOT include

packed or zoned decimals.

6. Date formats should be MM/DD/YYYY (e.g., March 14, 2001 should

be provided as 03/14/2001).

Deposit Extract File Format

----------------------------------------------------------------------------------------------------------------

Info

Information Field Definition FDIC Name Info Type Length Dec

----------------------------------------------------------------------------------------------------------------

1........... Account Status..... Code defining account STATUS............. C........... 4

status (Open, Closed,

Dormant, etc)..

2........... Branch Number...... Branch Number........... BRANCH............. C........... 4

3........... Account Number..... Unique account number. ACCTNO............. C........... 16

Include all fields

required to avoid

duplicate account

numbers..

4........... Tax ID Number...... Taxpayer identification TAXID.............. C........... 11

number of the primary

account holder (ex: 428-

78-1992 or 58-2345679

Include Hyphens)..

5........... Customer Short Name Alpha sort key used to SHORTNAME.......... C........... 20

create an alpha list of

accounts..

6........... Customer Name...... Full name line 1 as it NAME1.............. C........... 40

appears on deposit

account..

7........... Joint Customer Name Full name line 2 as it NAME2.............. C........... 40

appears on deposit

account..

8........... Customer Street The street address as it ADDR1.............. C........... 40

Address. appears on the

statement. May also be

provided in multiple

fields (provide as

ADDR1, ADDR2, ADDR3,

etc).

9........... Customer City...... Address city as it CITY............... C........... 25

appears on statement..

10.......... Customer State..... State postal STATE.............. C........... 2

abbreviation as it

appears on statement..

11.......... Customer Zip....... Address zip code as it ZIP................ N........... 9

appears on statement--

no hyphens..

12.......... Financial The Financial FITYPE............. C........... 4

Institution's Institution's account

Account Type. types. Use any

pertinent codes

relevant to identifying

the type of account..

13.......... Account Type Description of the FIDESC............. C........... 20

Description. Financial Institution's

account types. May also

be used to describe

class codes..

14.......... FDIC Account Type.. FDIC Claim Types (e.g., FDICTYPE........... C........... 4

DDA, SAV, CD, NOW, MMA,

IRA, KEO (KEOGH), TRU

(TRUST))..

15.......... GL Code............ Financial Institution's GLCODE............. C........... 6

GL code that the

account is aggregated

to for GL accounting..

16.......... GL Code Description Description of Financial GLDESC............. C........... 20

Institution's GL code

that the account is

aggregated to for GL

accounting..

17.......... Class Code......... All codes identifying CLASS.............. C........... 4

deposit account

products on bank's

system (may be the same

as FITYPE)..

[[Page 30877]]

18.......... Municipality....... Indicates account of MUNICIPAL.......... C........... 4

state, county or

municipal entity..

19.......... Current Account Current principal CURRBAL............ N........... 15 2

Balance. account balance..

20.......... Accrued Interest... Accrued interest earned ACCRINT............ N........... 15 2

but not paid on the

account. Enter zero if

not interest bearing..

21.......... Per Diem........... Daily accrual amount or PERDIEM............ N........... 9 5

per diem. Enter zero if

blank or null..

22.......... Interest Paid Year- Interest paid year-to- INTPYTD............ N........... 15 2

to-Date. date. Enter zero if not

interest bearing..

23.......... Interest Rate...... Current interest rate RATE............... N........... 8 5

applicable to account

on cutoff date. Rate is

based on the current

balance, not base rate.

If minimum balance

requirements are not

met, rate is zero..

24.......... Original Date...... Date account opened..... ORIGDATE........... D........... 8

25.......... Maturity Date...... Maturity date for all MATDATE............ D........... 8

CDs and IRA accounts..

26.......... Interest Paid Date interest is paid PDTHRUDT........... D........... 8

Through Date. through..

27.......... Collateral Account Loan account number for LOANACCT........... C........... 16

Number. which this deposit

account is serving as

collateral..

28.......... Overdraft Account Overdraft Protection OPDACCT............ C........... 16

Number. account number this

account is tied to..

29.......... Available Overdraft Current available AVAILOD............ N........... 15

Protection Amount. Overdraft Protection

Balance.

30.......... Average Daily Average daily balance, DAILYBAL........... N........... 15

Balance. maintained for the

current statement

period (monthly,

quarterly)..

31.......... Available Balance.. Current available AVAILBAL........... N........... 15

balance.

32.......... Hold Code.......... Hold code(s)/flag(s) HOLDCODE........... C........... 4

indicating account

secures a loan(s)..

33.......... Hold Description... Description of hold HOLDDESC........... C........... 20

code(s)/flag(s)

indicating account

secures a loan(s) etc..

34.......... Hold Amount........ Amount of hold(s)....... HOLDAMT............ N........... 15 2

----------------------------------------------------------------------------------------------------------------

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 where possible.

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 should be included in the information provided,

not implied (i.e., $10,300.75 should be provided as 10300.75, interest

rate of 8.45% should be provided as .0845). Please do NOT include

packed or zoned decimals.

6. Date formats should be MM/DD/YYYY (e.g., March 14, 2001 should

be provided as 03/14/2001).

7. All information for each loan must be contained within one

record.

a. Participation sold information should not be provided as a

separate record (provide as separate field).

b. Partial charge-off information should not be provided as a

separate record (provide as separate field).

c. Completely charged-off loans and paid-off loans should not be

included in the download.

d. Loans with partial charge-off should be provided with balances

net of partial charge-off.

[[Page 30878]]

Loan Extract File Format

----------------------------------------------------------------------------------------------------------------

Info

Information Field Definition FDIC Name Info Type Length Dec

----------------------------------------------------------------------------------------------------------------

1........... Borrower Name...... The full legal name NAME............... C........... 50

(Last Name, First 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 SHORTNAME.......... C........... 50

assigned to each

borrower.

3........... Borrower Street The street address where ADDR1.............. C........... 50

Address. the borrower's home or

head office is located.

May also be provided in

multiple fields

(provide as ADDR1,

ADDR2, ADDR3, etc).

4........... Borrower City...... The city where the CITY............... C........... 40

borrower's home or head

office is located.

5........... Borrower State..... The state where the STATE.............. C........... 2

borrower's home or head

office is located.

6........... Borrower Zip....... The zip code where the ZIP................ C........... 10

borrower's home or head

office is located.

7........... CIF Number......... Central Information File CIF................ C........... 15

identifier. The number

that links all loan,

deposit, and other

accounts to the

borrower. (This number

may be the same as the

Borrower ID Number.)

8........... Insider............ Indicates if the INSIDER............ C........... 1

borrower is either an Y/N.........

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).

9........... Tax ID Number...... Taxpayer identification TAXID.............. C........... 11

number of the primary

account holder (e.g.,

428-78-1992 or 58-

2345679 Include

Hyphens).

10.......... Accrued Interest... Total amount of interest ACCRINT............ N........... 14 2

accrued and unpaid on a

note/credit facility.

11.......... Amortizing or Non Indicates if the note/ AMORTCD............ C........... 1

Amortizing Status. credit facility is Y/N.........

amortizing or non-

amortizing.

12.......... Branch ID.......... Identifies the branch BRANCH............. N........... 3

location where 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.

13.......... Charged-Off Amount. The amount associated CHGOFFAMT.......... N........... 14 2

with the note/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.

14.......... Co-Maker or Joint The name of the co- COMAKER............ C........... 50

Maker. maker(s) or joint

maker(s) whose

signature(s) appears on

the promissory note or

loan agreement.

15.......... Current Balance.... The portion of the note/ CURRBAL............ N........... 14 2

credit 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.

16.......... Number of Days Past If interest or principal DAYSLATE........... N........... 4

Due. is delinquent, indicate

the number of days

delinquent. If both are

delinquent, indicate

the larger of the two

numbers.

17.......... Dealer Code........ The code identifying DEALERCD........... C........... 5

loans accepted from

auto, mobile home, or

other sales agents.

18.......... Dealer Name........ Dealer name............. DEALNAME........... C........... 50

19.......... Dealer Reserve The amount of the dealer DEALERRES.......... N........... 14 2

Balance. reserve held in

conjunction with the

applicable account.

20.......... Escrow Balance..... The amount currently ESCRBAL............ N........... 14 2

held in escrow for

payment to third

parties, such as

insurance and real

estate taxes.

21.......... Guarantor or Name of the individual GTYNAME............ C........... 50

Endorser Name. or entity that

guarantees, in part or

in full, the borrower's

note.

22.......... Index.............. The specific underlying INDEX.............. C........... 10

market index 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).

23.......... Interest Rate...... The interest rate RATE............... N........... 8 3

currently applicable to

the note/credit

facility. If the

interest rate is

variable, indicate the

current rate (e.g.,

7.25%, not Prime + 1).

[[Page 30879]]

24.......... Interest Paid to Amount of interest INTPAID............ N........... 14 2

Date. collected since

origination or other

institution-defined

time period.

25.......... Interest Rate Reset The time between RTCHGFRQ........... N........... 3

Interval. periodic reset dates

for variable or

adjustable rate loans.

26.......... Interest Rate Reset The next periodic reset RESETDTE........... D...........

Date. date for variable or

adjustable rate loans.

27.......... Last Payment Date.. Date Date the last LASTPMT............ D...........

payment was made.

28.......... Last Renewal Date.. Date on which the LASTRENEW.......... D...........

legally binding note/

credit facility was

extended or renewed,

even if principal

reductions have been

made.

29.......... Late Charges....... Late charges that are LTCHGBAL........... N........... 14 2

currently due.

30.......... Lifetime Interest The upper limit on the RTCEIL............. N........... 8 3

Rate Cap. interest rate that can

be charged over the

life of the loan.

31.......... Lifetime Interest The lower limit on the RATEFL............. N........... 8 3

Rate Floor. interest rate that can

be charged over the

life of the loan.

32.......... Maturity Date...... The date on which the MATDATE............ D...........

legally binding note/

credit facility matures.

33.......... Mortgage Loan Type. For real estate loans, MTGTYPE............ C........... 15

indicates if the note/

credit facility is

secured by a first lien

on single-family

residential real estate.

34.......... Next Payment Date.. Date the next scheduled NXTDUEDT........... D...........

payment is due.

35.......... Non-accrual........ Idicates if the note/ NONACCRCD.......... C........... 1

credit facility is on Y/N.........

non-accrual status.

36.......... Note Number or The number used by the ACCTNO............. C........... 15

Credit Facility bank to uniquely

Number. identify a note/credit

facility.

37.......... Note Type or Credit A code representing the LOANTYPE........... C........... 5

Facility Type. type of loan May

correspond to the FFIEC

Report of Condition.

38.......... Note Type or Credit A description of the TYPEDESC........... C........... 15

Facility Type code representing the

Description. type of loan.

39.......... Number of Payments. The number of payments PAYNUM............. N........... 3

specified in the loan

agreement or note.

40.......... Number of The number of times the EXTENDS............ N........... 2

Extensions. loan has been extended

beyond original

maturity date.

41.......... Original Balance... The amount of the note ORIGAMT............ N........... 14 2

or credit 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.

42.......... Original Date...... The date your ORIGDATE........... D...........

institution extended

credit to the borrower.

Date should be

consistent with the

information provided

for original balance.

43.......... Payment Amount..... Amount of regularly PAYAMT............. N........... 14 2

scheduled payments.

44.......... P&I Payment........ Amount of regularly PIAMT.............. N........... 14 2

scheduled P&I payments.

45.......... Payment Frequency.. The frequency payments PAYFREQ............ C........... 15

are due to the bank

(i.e. monthly,

quarterly, annually).

46.......... Periodic Interest For variable or PRTCAP............. N........... 8 3

Rate Cap. adjustable rate loans,

the maximum percentage

points that the rate

may change each reset

interval.

47.......... Basis Code......... Day basis on which BASIS.............. C........... 12

interest calculations

are made (e.g., 3/360,

Actual/360, etc.).

48.......... Revolving Line of Indicates if the loan is REVCODE............ C........... 5

Credit. a revolving line of

credit.

49.......... Security Perfection The date that the last PERFDATE........... D...........

Date. security interest,

lien, or UCC-1 was

perfected.

50.......... Times Past Due 30- Number of times the note/ LATE30............. N........... 4

59 Days. credit facility has

been past due 30-59

days during the last 12

months of the loan.

51.......... Times Past Due 60- Number of times the note/ LATE60............. N........... 4

89 Days. credit facility has

been past due 60-89

days during the last 12

months of the loan.

52.......... Times Past Due 90+ Number of times the note/ LATE90............. N........... 4

Days. credit facility has

been past due 90 or

more days during the

last 12 months of the

loan.

53.......... Total Commitment... The sum of the CREDLMT............ N........... 14 2

outstanding balance and

the undisbursed amount

legally available to be

drawn upon.

54.......... Troubled Debt Code indicating if the RTDCODE............ C........... 1

Restructured Code. note/credit facility is Y/N.........

considered to be a

troubled debt

restructure.

55.......... Unfunded or The amount legally UNFUNDED........... N........... 14 2

Undisbursed available under a note/

Balance. credit facility that

has not been disbursed.

56.......... Variable Rate Code. Code indicating RATECODE........... C........... 5

adjustable, floating,

or variable interest

rate.

[[Page 30880]]

57.......... Variable Rate Description of code RATEDESC........... C........... 15

Description. indicating adjustable,

floating or variable

interest rate.

58.......... Collateral Code.... The code associated with COLLCODE........... C........... 5

a unique collateral

type (i.e. commercial

real estate, 1-4 family

real estate, UCC

filings, marketable

securities).

59.......... Collateral The narrative COLLDESC........... C........... 50

Description. description of

collateral or a

description Referencing

a collateral code. The

collateral code for

each description must

be included in a

separate table.

60.......... Collateral State... State in which the COLSTATE........... C........... 2

collateral is located.

61.......... Collateral Value... The total value assigned APPRLAMT........... N........... 14 2

to the collateral. If

the bank has adjusted

this value, please

indicate this in your

supporting

documentation.

62.......... Collateral Date collateral was last APPRDATE........... D...........

Valuation or appraised or valued.

Appraisal Date.

63.......... Insurance Code/Flag Code indicating the INSCODE............ C........... 5

status of insurance

covering collateral for

a note/credit facility.

64.......... Insurance The date that the INSEXP............. D...........

Expiration Date. related insurance

policy covering bank

collateral expires.

65.......... Lien Status........ The priority lien held LIENCODE........... C........... 10

by this bank (i.e. 1st

lien, 2nd lien).

66.......... Participating Code indicating the INVESTOR........... C........... 5

Institution Code. institution

participating in the

credit. If the credit

is sold to multiple

institutions, please

indicate this in your

supporting

documentation.

67.......... Participating Description of the code INVDESC............ C........... 50

Institution indicating the

Description. institution

participating in the

credit. If the credit

is sold to multiple

institutions, please

indicate this in your

supporting

documentation.

68.......... Participation The current outstanding PARTSOLD........... N........... 14 2

Amount. dollar amount of the

loan sold to or

purchased from another

institution.

69.......... Participation Code. A code indicating that PARTTYPE........... C........... 5

the loan/credit

facility involves a

participation purchased

or sold. Please

identify the purchased

and sold codes.

70.......... Participation Code Description of the code PARTDESC........... C........... 15

Description. indicating that the

loan/credit facility

involves a

participation purchased

or sold.

71.......... Participation Sold The original amount of PARTORG............ N........... 14 2

Original Amount. the loan participation

sold or purchased.

72.......... Rebate Flag........ Flag indicating there is REBATE............. C........... 1

any kind of rebate Y/N.........

associated with the

account. (i.e.

insurance, interest

etc.).

----------------------------------------------------------------------------------------------------------------

[FR Doc. 99-14641 Filed 6-9-99; 8:45 am]

BILLING CODE 6714-01-P