Announcing Updates to Loan Data Element Definitions Applicable to In-Scope Automated Loan Deposit (ALD) Collateral Submissions for Discount Window and Payment System Risk Purposes
Effective immediately, in-scope institutions will be able to report additional interest rate indices, additional interest / principal payment types, and an expanded range of credit scores. Additional guidance has also been provided with respect to reporting modified loans.
The following additional interest rate indices are now accepted beyond LIBOR, Treasury, and PRIME:
The interest payment frequency and principal payment frequency loan data elements have been updated to include ‘Other’ to accommodate reporting frequencies not previously listed. The definitions for credit score at origination, most recent credit score and credit score segment were updated to account for an expanded range of acceptable credit scores. The acceptable range was previously documented as 300 to 850 and now reflects a range from 250 to 900. This change will affect all loan types that currently include the aforementioned loan data elements, including credit cards. Additional guidance has been provided to assist institutions with identifying modified loans and reporting loan data elements when a modification occurs. Lastly, minor clarifications have been added to the definitions for the Obligor Name and Total Current Commitment loan data elements.
For reference, the loan data element requirements and definitions for in-scope institutions can be found in the File Specifications section of the Pledging Collateral page of the Discount Window and Payment System Risk website. The submission process for all other institutions remains unchanged.
Please review the related frequently asked questions for more information about the changes. Contact your local Reserve Bank with any inquiries.