Skip to content

Must Letters of Credit be on Balance Sheet?

Answered by: 

Question: 
Are we required by the FDIC to show our letters of credit on our balance sheet? We carry ours as a participation, but because it is unbooked, it doesn't show on our balance sheet. At all of the other FDIC banks I've worked for, we've been required to show our letters of credit on our balance sheet.
Answer: 

Letters of credit should be reflected on SCHEDULE RC-L - DERIVATIVES AND OFF-BALANCE SHEET ITEMS of your call report.

First published on BankersOnline.com 10/04/10

First published on 10/04/2010

Filed under: 
Filed under compliance as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics