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Ceto and Associates is notifying all Deposit Reclassification clients about the availability of an advanced module. Ceto and Associates is encouraging all clients to upgrade to the New Ceto Module due to the closing technological window which directly impacts our service capabilities.

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Join Ceto and Associates for, Time is Up, Upgrade to Your New Deposit Reclassification Module an insightful on-line presentation of the New Version of Deposit Reclassification. Prepare your team for the new module and learn the necessary steps to upgrade. During this live webinar, Ceto and Associates will be available for your questions.

The webinar will address:

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About the New Version

The New Version upgrade contains new automated steps to increase efficiency and effectiveness and improve application management. Ceto and Associates simplified the Deposit Reclassification processing steps to reduce common operational errors, loss of knowledge through retraining, and time requirements for reporting changes and application maintenance.

The new automation saves you or your personnel time. Multiple steps are no longer needed to close the month and quarter. You are alerted to add new product codes as you develop new checking account types. In addition, you are not required to perform manual database maintenance and compaction.

Enhanced reporting in the new version assists you or your personnel in quickly reporting reclassified totals on your institution's FR2900 or quarterly regulatory report. The New Version's reports perform calculations and include instructions for simple regulatory accounting.

The New Version most importantly addresses current regulatory trends. A Board of Governor's Letter from May 2007 outlines the key criteria for Deposit Reclassification programs and further clarifies these criteria. One of the items, within this letter, is the reporting of reclassified balances on an institution's official books and records.

The FDIC and several Federal Reserve Districts interpreted official books and records as the general ledger; meaning reclassified balances must be reflected on an institution's general ledger. While this interpretation has not been uniformly applied across all 12 Federal Reserve Bank Districts, Ceto and Associates believes that it will be mandatory in the future. Ceto and Associates wants to inform and ensure our clients remain in full compliance when this requirement is applied.

Implementing the New Version

The upgrade to the New Version is easy to implement. The process only takes two hours of your staff's time: one hour to covert your module to the New Version and one hour to train users on the new process and features. There is a one-time fee of $3,500 to upgrade to the New Version. This fee includes the New Version of the module, customization for your institution, historical data conversion, implementation and training. The upgrade is completed through phone calls, e-mails and web conferences. No visit to your location is necessary.

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If you would like more information, please check out the Deposit Reclassification Module Update brochure (1.02 MB) or contact us at 1.866.227.1361 (x238) or e-mail webinar@ceto.com.

Institutions not currently using Deposit Reclassification, Click Here to learn more.