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The program status word is a register that performs the function of a status register and program counter, and sometimes more. The term is also applied to a copy of the PSW in storage. This article only discusses the PSW in the IBM System/360 and its successors, and follows the IBM convention of numbering bits starting with 0 as the leftmost bit.

Although certain fields within the PSW may be tested or set by using non-privileged instructions, testing or setting the remaining fields may only be accomplished by using privileged instructions.

Contained within the PSW are the two bit condition code, representing zero, positive, negative, overflow, and similar flags of other architectures' status registers. Conditional branch instructions test this encoded as a four bit value, with each bit representing a test of one of the four condition code values, 2 + 2 + 2 + 2.

The 64-bit PSW describes

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