Narrative:

We were at FL270 descending to FL240 and I gave control of the ATC radio to the first officer and went to pick up bur ATIS and talk to company. While I was copying ATIS I heard the altitude alert sound. I looked up and noticed we were 300' low and that the first officer had disconnected the autoplt. He arrested the descent at 23550' and climbed back to FL240. During this the controller questioned our altitude and the first officer said we were going back to FL240. Later on the phone ATC said we had come within 3 1/2 mi and 400' of another airplane. I later learned that the first officer thought we had been cleared to 14000'. He was also asked to increase speed from 260 to 290 KTS. To accomplish this the first officer pressed the autoplt pitch down selector. When this is done close to an altitude to be captured it disengages the altitude capture. This is why the autoplt didn't level us at FL240.

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Original NASA ASRS Text

Title: ACR LGT OVERSHOT ALT ON DESCENT. LESS THAN STANDARD SEPARATION.

Narrative: WE WERE AT FL270 DSNDING TO FL240 AND I GAVE CTL OF THE ATC RADIO TO THE F/O AND WENT TO PICK UP BUR ATIS AND TALK TO COMPANY. WHILE I WAS COPYING ATIS I HEARD THE ALT ALERT SOUND. I LOOKED UP AND NOTICED WE WERE 300' LOW AND THAT THE F/O HAD DISCONNECTED THE AUTOPLT. HE ARRESTED THE DSCNT AT 23550' AND CLBED BACK TO FL240. DURING THIS THE CTLR QUESTIONED OUR ALT AND THE F/O SAID WE WERE GOING BACK TO FL240. LATER ON THE PHONE ATC SAID WE HAD COME WITHIN 3 1/2 MI AND 400' OF ANOTHER AIRPLANE. I LATER LEARNED THAT THE F/O THOUGHT WE HAD BEEN CLRED TO 14000'. HE WAS ALSO ASKED TO INCREASE SPD FROM 260 TO 290 KTS. TO ACCOMPLISH THIS THE F/O PRESSED THE AUTOPLT PITCH DOWN SELECTOR. WHEN THIS IS DONE CLOSE TO AN ALT TO BE CAPTURED IT DISENGAGES THE ALT CAPTURE. THIS IS WHY THE AUTOPLT DIDN'T LEVEL US AT FL240.

Data retrieved from NASA's ASRS site as of August 2007 and automatically converted to unabbreviated mixed upper/lowercase text. This report is for informational purposes with no guarantee of accuracy. See NASA's ASRS site for official report.