​>Strictly a guess on my part, but I'd bet that your exit is running under 
an IRB chained to a PRB. I would further guess that the PSW and REGS at the 
time the STIMERM popped would be in that PRB. Of course, this is strictly a 
guess on my part and is not GUPI.​ 




Registers and (old) PSW are stored at different places. Registers are stored in 
the current (I)RB control block (and extensiotn to it), the PSW is stored in 
the RB (PRB, IRB, SVRB, ...) that was the current RB at the time the IRB was 
instantiated.

-- 
Peter Hunkeler 

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