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With the recent HLASM and z390 support for 32 bit relocatible immediate fields, it appears that for amode 31, the IILF insert immediate instruction is a more efficient way to load a register with an external address than using the traditional L load instruction to fetch an address constant. The 6 byte insert immediate instruction can replace 8 bytes for the load and address constant. And the insert instruction avoids having to add base and displacement address and then load the separate address constant.
Don Higgins