What’s New in 2008a.109?
Average Balances in Projections - Fixes
Projected Averages not in Balance
An enhancement to PROFITstar Portfolio, released in the 2008 version of our software, caused average balances to not balance in PROFITstar’s Projections module, when the two programs were linked.
This issue was also seen if an account’s Maturity or Repricing timing, and its New Purchases timing, were set to different values (other than mid-month). Then, when the Projections balancing routine was run, the averages did not balance.
Now, a modified balancing routine ensures that projected average balances, on both sides of the balance sheet, remain in synch—just as the month-end amounts do. This is accomplished by allowing the system to place amounts in either or both of the Month-End and Average balancing account data items, as needed.
Note: A known issue involves accounts that have the following, obscure combination of settings:
· Non-rate bearing
· Maturity or Repricing Day, and New Purchases Day, are set to different values (other than mid-month)
· Maturity Type set to “N/A”
· Balloon Interval set to “0”
· Auto-Update Action set to something other than “Manual Core/Non-core” or “Auto Core/Non-core”
The averages for these accounts will not be calculated the same as other accounts. This issue will be addressed in a future release.
Calculating Income/Expense for Balancing Accounts
Since Month-End and Average balances for the balancing accounts function independently in 2008a.109, the projected interest income or expense for balancing accounts is now calculated using average balances, instead of month-end amounts.
Note: The calculation for projected interest income/expense, for accounts other than the balancing accounts, continues to utilize month-end balances.
Projections - Fixes
Getting the Fair Value in PROFITstar and PROFITstar Portfolio to Match
In prior versions of PROFITstar, certain Key Rate Tie settings could cause Fair Value rate shock results in PROFITstar to be different from the same scenario results in PROFITstar Portfolio.
Now, when an account in PROFITstar is linked to PROFITstar Portfolio, and its Fair Value treatment is Quote, the Fair Value in both programs should match. If the account’s Fair Value is different, check to make sure that the following conditions are true:
· The rates in PROFITstar Portfolio have been synchronized to PROFITstar.
· The Rate Ceiling/Floor and Slope in PROFITstar match the Shock and Slope in PROFITstar Portfolio.
· The Fair Value driver rate in PROFITstar does not have Rate Limits (Ceilings or Floors).
· The Fair Value driver rate is greater than the greatest downward shock. (Rates cannot be shocked below zero.)
Note: Changes made in PROFITstar Portfolio will not affect PROFITstar until the download is run.
Preventing Negative Key Rates in Fair Value and IRSA
The PROFITstar program has been changed so that Fair Value and IRSA shocks will never produce negative key rates. If a shocked key rate would have previously resulted in a value of less than zero, the program will now make that rate zero.
Quick Projections Requiring Global Databank Items to be Editable
Previously, if a Quick Projection could not acquire global data locks in order to project global key rates, then those items were ignored when the Quick Projection was run. Now, the program will notify the user, providing an opportunity to rectify the situation.
Reporting - Fixes
Zero Suppression and Report Headers in Report Wizard
If multiple organizations were included in a report, the header that displayed the organization name on each page was hidden when the Display only non-zero rows option was selected.
This behavior has been corrected.
Moving Reporting Groups in Report Central
Under certain circumstances, moving a reporting group to a different level in the Multiple Reporting Groups tree list caused other reporting groups to disappear when Report Central was closed.
This is fixed in the current release.
Reporting - Enhancements
Pool Numbers Added to Report Writer’s Quick Fill Matrix Option
If Pool Numbers have been assigned to accounts in your Chart of Accounts, you can now select a single Pool Number when you create a Report Writer report using the Quick Fill Matrix. In this way, you can limit the contents of the report to those accounts that are set up with the specified Pool Number.
IRSA Income Statement Data Accessible in Report Writer
An IRSA Income data item has been added to the Report Writer that can be used to obtain the same values that you would see on the IRSA Income Statement report. This data item is available in the Formula Assistant, the Quick Data, and the Quick Fill Matrix tools, when the category is set to Income/Expense. The Report Writer code for this is DataItem(80).
Fair Value Last Calc Data Added to Report Writer
A new data item has been added to the Report Writer that can be used to pull in the same values that you would see on the Fair Value – Combined (Last Calc) report. This data item—FV Last Calc—is available in the Formula Assistant and Quick Data tools, when the category is set to Balance Sheet. The Report Writer code for this is DataItem(81).
Instrument Level Detail - Fix
Matr/Repr Distribution of Variances Not Amortizing
In the Maturity/Repricing module, for an account with instrument detail enabled, the historical month-end balance for the current month must equal the sum of the detail records linked to that account. If a variance is identified, the distribution action for such an account is to amortize the difference over a specified period.
In prior versions of 2008a, this process was placing the difference in the first future month. Now, the distribution of the variance is properly amortized across the specified time frames.
Allocations - Fixes
Rules not Refreshing in Allocations
If allocations were reversed and rerun, immediately after adding some Allocation Rules, then the new rules did not show up in the allocations results.
This issue has been resolved.
Year to Date Income Calculations
An issue was discovered that could cause errors in the year to date income calculations during Allocations, when the Balance Sheet YTD income account was replaced in the chart.
This is fixed in 2008a.109.
Download - Fixes
Download Reset Average Age Value
When the download link was run for investment or loan files, the Average age values for accounts in organizations that were not directly targeted by the link were being reset to ‘1.’ (The Average age row, in the Maturity/Repricing grid, is only available when accounts are set up to use the PSA prepayment method.)
Now the download will only reset an account’s Average age value if it is in an organization targeted by the extract file and if the Zero File Download Setup option is selected.
Instrument Level Detail Downloaded Multiple Times
Previously, downloading Instrument Level Detail (ILD) for an Investment or Borrowing file, while utilizing the Create cash flows for callable accounts option, caused the affected accounts to show ILD results that were several times higher than expected.
This issue is resolved in the 2008a.109 release.
Instrument Level Detail Download Link Error
Under certain conditions, downloading Instrument Level Detail could result in the Link process terminating with an error message.
This has been fixed.
Certificates not Correctly Recalculating FTP Rates
If the Account Identifiers Unique flag was selected for the Time Deposit file type, an FTP rate was not being recalculated for certificate accounts when their Roll Dates changed.
This has been corrected.
Downloaded Product Code Matching
When the download program attempted to interpret DL Product Codes, it was matching codes and products as soon as any of the text agreed. For example, a downloaded code such as ‘L15’ would be associated with a product set up with a code of ‘L1,’ since the process stopped as soon as any of the text matched.
This behavior has been corrected.
Download - Enhancement
Preventing the Downloading of Negative Key Rates
If a Databank extract file contains any negative key rate values, the download program will not place those values in any Historical or Projected time frame. In the model, the key rates in the affected time frames will be zero.
What’s New in 2008a.109? Page 1