The Deposit Reclassification conversion process can be completed within 45 days and requires very little time from your personnel. Deposit Reclassification is completely under your control since it uses your existing personal computer (PC) software. Most importantly, the Deposit Reclassification project is approved by your local Federal Reserve Bank, in advance, in order to comply with FRB Regulation D.
Deposit Reclassification transforms excess reserves balances at the FRB into new funding sources for loans and investments. As a result of lowering your reserve requirement, you have the opportunity to unlock additional earning assets through the reduction of vault cash.
Think Inside the Vault: Put Non-Performing Assets to Work for You!
The “cost” of cash is increasing and bankers are recognizing a loss in an interest-earning opportunity when keeping excess vault cash. By instituting better vault cash management practices, banks and credit unions can immediately improve earnings.
