libname myfmts "/folders/myfolders/formats";
will create a format library myfmts and format file will be saved as formats.sas7bdat in the formats folder.
you can define a format name as $genderf in the format file
PROC FORMAT library=myfmts;
VALUE $genderf 'm'='Male' 'f'='Female';
run;
you can further write the second format names as group into the same format file.
PROC FORMAT library=myfmts;
VALUE asgroup 0-<60='F' 60-<70='D' 70-<80='C' 80-<90='B' 90-High='A'
Other='Missing';
run;
the format file can be checked by
proc format library=myfmts fmtlib;
run;
libname myfmts "/folders/myfolders/formats" ;
options fmtsearch=(myfmts work library);
proc print data = dataset1;
format gender $genderf. averagescore asgroup.;
run;
any misunderstanding?