RCFD3411: Commercial and Similar Letters of Credit
RCFD3411 is the call report code for commercial and similar letters of credit, reported on Schedule RC-L, Derivatives and Off-Balance-Sheet Items. For Q2 2026, 80 banks reported it, totaling $16.27B; the median among the 36 with a nonzero amount was $38.3M. The largest value reported for Q2 2026 was $5.94B, by Citibank, N.A.
Definition
Includes the amount outstanding and unused as of the report date of issued or confirmed commercial letters of credit, travelers' letters of credit not issued for money or its equivalent, and all similar letters of credit, but excluding standby letters of credit (which are reported in items 3819 and 3821 for the FFIEC 031, 032, 033, and 034 reports and are reported in items 3375, 3376, 3377, and 3378 for the FFIEC 002 report). (See the Glossary entry for 'letter of credit' in the Report of Condition and Income Instruction Booklet.) Legally binding commitments to issue commercial letters of credit are reported in this item. Travelers' letters of credit and other letters of credit issued for money or its equivalent by the reporting entity or its agents are reported as demand deposit liabilities in Schedule RC-E of the Call report and in Schedule E of the branch and agency report.
Source: Federal Reserve Micro Data Reference Manual (MDRM). The FFIEC call report instructions remain the authority on how to report the item.
Where RCFD3411 sits on the call report
| Code | RCFD3411 (prefix RCFD, item 3411) |
|---|---|
| Prefix RCFD | The consolidated bank, domestic and foreign offices, reported by FFIEC 031 filers (banks with foreign offices). |
| Schedule | RC-L, Derivatives and Off-Balance-Sheet Items |
| Reported on | FFIEC 031 |
| Value | Dollar amount, reported in thousands, as of the quarter end |
| In the MDRM since | 1979 |
The same item under other prefixes
Item 3411 is also reported under these codes. Which banks file each one depends on the form they file.
| Code | Meaning of the prefix | Banks reporting |
|---|---|---|
| RCON3411 | Domestic offices. Banks without foreign offices (FFIEC 041 and 051 filers) report their whole balance sheet in RCON items | 4,217 |
Largest reported values, Q2 2026
| Bank | Headquarters | RCFD3411 |
|---|---|---|
| Citibank, N.A. | Sioux Falls, SD | $5.94B |
| JPMorgan Chase Bank, N.A. | Columbus, OH | $5.55B |
| Wells Fargo Bank, N.A. | Sioux Falls, SD | $1.77B |
| Bank of America, N.A. | Charlotte, NC | $902.0M |
| HSBC Bank USA, N.A. | Tysons, VA | $343.8M |
| U.S. Bank N.A. | Cincinnati, OH | $284.9M |
| City National Bank | Los Angeles, CA | $226.6M |
| BMO Bank N.A. | Chicago, IL | $192.1M |
| KeyBank N.A. | Cleveland, OH | $169.9M |
| PNC Bank, N.A. | Wilmington, DE | $137.9M |
Total reported by quarter
| Quarter end | Banks reporting | Total reported |
|---|---|---|
| June 30, 2026 | 80 | $16.27B |
| March 31, 2026 | 80 | $15.59B |
| December 31, 2025 | 80 | $13.74B |
| September 30, 2025 | 80 | $13.13B |
| June 30, 2025 | 80 | $13.42B |
| March 31, 2025 | 82 | $13.51B |
| December 31, 2024 | 82 | $13.79B |
| September 30, 2024 | 82 | $13.68B |
Related
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