Site-local clarification

[Siva Veerepalli]

Sec 2.5.6 of the site-local addressing architecture states that:

Site-Local addresses have the following format:

| 1111111011 | 54 bit subnet ID |  64 bit Interface ID |

Site-local addresses are designed to be used for addressing inside of a site without the need for a global prefix. Although a subnet ID may be up to 54-bits long, it is expected that globally-connected sites will use the same subnet IDs for site-local and global prefixes.

Does the interpretation of the above sentence mean, "if my global prefix is 3FFE:2900:1107:314::/64, my site-local prefix would be FECE:2900:1107:314::/64" ?

Thanks,
Siva