5.5 Pending Accounts
Accounts which do not have the requisite information to proceed for ORC Classification or Insurance calculations are parked with a “Pending” state as Insurance Determination Status.
Certain fields are considered to be Optional and hence a missing value in
these fields does not qualify for a ‘Pending Status’. These attributes are:
- Customer Type
- Product category
- Participant Type
For each pending record, a reason is populated in the form a pending reason code as per FDIC Part 370 Regulation.
Table 4-5 Pending Accounts
Code | Comment |
---|---|
A | Missing Agent/Custodian information |
B | Missing Beneficiary Information for Trusts |
RAC | Missing Right and Capacity Code |
OI | Missing Official Item |
ARB | Direct Obligation Brokered Deposit |
ARBN | Non Direct Obligation Brokered Deposit |
ARCRA | Certain Retirement Accounts |
AREBP | Employee Benefit Plan Accounts |
ARM | Mortgage Servicing for Principal and Interest Payments |
ARO | Other Deposits |
ARTR | Trust Accounts |