Demand Account Reclassification – Deposit reporting solution

It works like this …

Demand Account Reclassification supports revenue requirement reporting by allowing banks to reclassify demand deposit balances from reservable transaction accounts to non-reservable nontransaction accounts. It enables banks to procure an amount held in deposit accounts as savings deposits for the purpose of FR2900 reserve requirement reporting.

Put more money on your side …

This solution’s reclassification of funds allows banks to reduce their total amount of customer deposits on reserve at the FRB. This reduction provides banks additional funds that can be used for lending and investment purposes, resulting in additional income opportunities.

Automated and adaptable …

This solution reports the reclassification of funds to the general ledger. Bank-determined parameters are entered to specify minimum balances or minimum percentages to be maintained in the reservable transaction account. Balances above the minimum can be reclassified to savings. Demand Account Reclassification also p rovi des an inquiry option that displays current data for an account subject to reclassification and allows the user to drill into the reclassification history for the account. This solution’s daily reports are sorted by transfer, account number, or branch, and show the balance maintained in the transaction account and the balance reclassified to savings.

This solution is fully integrated with Jack Henry Banking’s SilverLake System and CIF 20/20 core processing solutions and is compatible with the Check 21 environment, virtually eliminating float.

Demand Account Reclassification is another innovative business intelligence and bank management solution that leverages the processes, technology, and expertise required to compile, report, and analyze enterprise-wide business information.