diff --git a/target/s390x/tcg/translate.c b/target/s390x/tcg/translate.c
index 4bae1509f5..a0d6a2a35d 100644
--- a/target/s390x/tcg/translate.c
+++ b/target/s390x/tcg/translate.c
@@ -2007,6 +2007,7 @@ static DisasJumpType op_cksm(DisasContext *s, DisasOps *o)
 static DisasJumpType op_clc(DisasContext *s, DisasOps *o)
 {
     int l = get_field(s, l1);
+    TCGv_i64 src;
     TCGv_i32 vl;
     MemOp mop;
 
@@ -2016,9 +2017,11 @@ static DisasJumpType op_clc(DisasContext *s, DisasOps *o)
     case 4:
     case 8:
         mop = ctz32(l + 1) | MO_TE;
-        tcg_gen_qemu_ld_tl(cc_src, o->addr1, get_mem_index(s), mop);
+        /* Do not update cc_src yet: loading cc_dst may cause an exception. */
+        src = tcg_temp_new_i64();
+        tcg_gen_qemu_ld_tl(src, o->addr1, get_mem_index(s), mop);
         tcg_gen_qemu_ld_tl(cc_dst, o->in2, get_mem_index(s), mop);
-        gen_op_update2_cc_i64(s, CC_OP_LTUGTU_64, cc_src, cc_dst);
+        gen_op_update2_cc_i64(s, CC_OP_LTUGTU_64, src, cc_dst);
         return DISAS_NEXT;
     default:
         vl = tcg_constant_i32(l);