On VAX or Alpha, specifies the program counter (PC) register containing the address of the next instruction to be executed by the processor. On I64, specifies the instruction bundle address (from the %IP register) and the slot offset within this bundle. VAX Examples: DBG> EXAMINE %PC ! Display the value in the PC MOD3\%PC: 1554 ! address of next instruction to execute DBG> EXAMINE %PC ! Display the value at the address in the PC MOD3\%LINE 12: MOVL B^12(R11),R1 ! next instruction to execute