What's new in the 2008 edition?
Enhancements and Changes
Table of Contents
2008a
PROFITstar and PROFITabilityPage 1
PROFITstar PortfolioPage 5
Fixes (in2008a.117,2008a.114,2008a.109, 2008a.97…)Page 6
2008
PROFITstar and PROFITabilityPage 22
PROFITstar PortfolioPage 31
PROFITstar Budget ManagerPage 34
Fixes (in 2008.114 & 2008.111)Page 36
PROFITstar® and PROFITability®
~Instrument Level Detail~
Instrument Level Detail Available in Projections
Just as in the Maturity/Repricing module, instrument level detail can now be viewed in Projections.
As long as the Download Instrument Detail setting is selected, on the General Settings tab of Preferences Setup, instrument level detail for the current month is downloaded and stored for all accounts linked to application files.
You can examine the detail records that are linked to an account by clicking the View Instrument Detail button in the Bal Sheet, Int Inc/Exp and Rates screen.
Analyze the Impact of Instrument Sales in Projections
If you are downloading instrument level loan detail, you can now project how the near-term sale of specific loan instruments will affect your institution's loan volumes, income and expense, and fair value. The initial modeling is performed at the detail account level, using the new Instrument Sale Impact tool.
Several prerequisite conditions must be met before this functionality can be used in the Projections module.
Instrument Level Detail Grid Improvements
The Instrument Level Detail grid has been enhanced for 2008a. The new functionality includes:
The ability to sort the information in the grid by clicking on a column header and choosing ascending or descending order.
A new column—called Organization—has been added that shows the name of the entity to which an instrument was downloaded.
~Reporting~
Fair Value Setup Report Added
A Fair Value Setup report has been added to PROFITstar's Documentation > Setup reports. This report shows the Chart of Account attributes used in the Fair Value calculations.
(PS Only)
Document Report Categories Expanded
Two Documentation report categories have been added to Report Wizard, to reduce the number of reports previously grouped under the Scenario category. The new categories are:
Key Rate Tie
Prepay / Decay
Cell Referencing Title Formats when Report Wizard Reports are Exported to Report Writer
In the 2008 release, functionality was added that let you include G/L numbers as part of an account's title. In 2008a, there is now an easy way to access this functionality when Report Wizard output is saved as a Report Writer report. To do this, follow these steps:
- If G/L numbers exist in your Chart of Accounts Setup, save a Report Wizard report as a Report Writer file type (on the Summary tab) and select the Export Formulas when available option.
- Open the saved report from with Report Writer and click the top left corner of the Report Writer grid to highlight the entire report.
- Select Format > Rows > Unhide.
- Click on cell E2. The formula box will display either =Short or =Long, depending upon the type of title that was selected for the report in the Report Wizard.
- Enter any of the following values to either prefix or append any associated general ledger numbers to the title of the accounts: GL_Short, GL_Long, Short_GL, or Long_GL.
- Calculate the report (F9), if necessary, to cause the cell referencing functionality to refresh the account titles.
- Highlight the rows at the top of the report, which were previously hidden, and use the Format > Rows > Hide command to remove them from the displayed report.
~Download~
”Spread Sign” Field Added
A new Loan application file field—Spread Sign—has been added, which can be used if your processor provides Spread to Key Rate and "sign" information in two separate columns.
When this is the case, leave the Sign option for the Spread to Key Rate field set to “N/A,” and define the Spread Sign field.
~Export Budget~
Additional Options Available in the Export Budget Tool
The following options have been added to the Export Budget tool:
Credit Balance – If this setting is not selected then all values are exported just as they appear in the Budget module grid. However, if this setting is selected, asset and income values are exported as they appear in PROFITstar, but liability, capital, and expense items are exported with the opposite sign.
G/L & Org. ID Display – Three formatting options are provided for displaying general ledger and organization numbers:
Separate Columns – Select this option to export the G/L and Org. ID as separate fields.
Combined - G/L before Org. ID – When this option is chosen, the organization ID number is appended to the G/L number, and both are exported in a single field. If necessary, zeros are added so that every Org. ID is the same length.
Combined - Org. ID before G/L – Use this option if the organization ID number needs to precede the G/L number. Both values are exported in a single field. As with the prior option, zeros may be added to ensure that every Org. ID is the same length.
~PROFITstar Portfolio Data in PROFITstar~
Clear Portfolio Detail
A Clear Portfolio Detail command has been added to the Tools menu (Tools > Maintenance > Clear Portfolio Detail), which can be used to remove all PROFITstar Portfolio detail records from the current model.
PROFITstar® Portfolio
Support Added for Borrowings that Convert from Floating to Fixed
A "floating to fixed-rate" option has been added to the program—for variable-rate Borrowings.
You can access the new settings by opening the Borrowing Information screen and choosing the Interest Rate Options tab. Select the Converts to fixed rate prior to maturity check box to activate the other fields.
Enter a conversion date and a post-conversion rate to complete the setup.
In addition, if the Converts to fixed rate prior to maturity check box has been selected, you can modify the date and rate settings in the Borrowing Portfolio grid by adding the appropriate columns to your Current Portfolio layout and selecting the Edit in GridEdit mode.
The Date to convert to fixed rate and Fixed rate after conversion fields can also be included in your Borrowing Portfolio reports.
”Save as CSV” Option Added to the Reports Preview Screen
A new Save as CSV button has been added to the report preview screen. Click it and specify a file name and path to save any Inventory or Cash Flow report as a CSV file.
User-Defined Scenario View Settings Preserved in Saved Portfolios
In the Scenario View screen, Lag, Slope, and Reinvestment Rate values are now preserved with each saved portfolio.
Note: The same Lag, Slope, and Reinvestment Rate settings are used for the Investments or Borrowings—within the same saved portfolio.
Fixes and Enhancements
While you are always encouraged to run the latest version of the software, please review this list of resolved issues to see if your institution would benefit from any of these changes.
Version / Release Date / Items Addressed2008a.117 / 04/30/2009 / Report Central – Bookmarks
Fixes and Enhancements
Bookmarks and Links Missing Report Names
In 2008a.114, when output was generated in Report Central using any of the PDF or Email options, bookmarks or links corresponding to Report Wizard reports did not display any report names.
This issue has been corrected.
Bookmarks Duplicated for the Single PDF File Per Organization Option
When reports included in a PDF file contain more data item columns (such as time frames) than will fit on a single page, the program provides a bookmark link (shown as a page number) each time the row information is repeated.
In prior versions of 2008a, if the Single PDF File Per Organization option was used to create output, the bookmarks corresponding to these page numbers were correct for the first organization, in the first PDF file.
However, in the second file, two bookmarks were created for each referenced page number (such as Page 1, Page 1, Page 4, Page 4, etc.). In the third file there were three instances of each, and so on.
This behavior is fixed in the current release.
Bookmarks Added to the Predefined Report Packets
In 2008a.117, bookmarks are now available in PROFITstar and PROFITability’s predefined report packets—providing quick access to any section or report they contain.
Version / Release Date / Items Addressed2008a.114 / 03/25/2009 / Shocked Key Rates - Enhancement
Shock Constraints Option Added
A new setup option has been added to each Key Rate account defined in Databank. Shock Constraints allows you to specify whether a Key Rate will be allowed to go negative in IRSA and FV shocks. The default Shock Constraints setting of Allow negative rates lets shocks produce rates below zero for the affected Key Rates. The Do not allow negative rates setting enforces a floor of 0.000%, for the Key Rate accounts using this option, in shocked rate environments. Your selections will have an impact on Key Rate Tie and Key Rate Tie Scenario calculations.
Note:The default setting of Allow negative rates is designed to provide you with shocked results that are the same as your pre-2008a.109 results.
The following example demonstrates how a Key Rate’s Shock Constraints setting can affect the offering rate of another account tied to that Key Rate.
In this example, a deposit account with a current offering rate of 1.500% is set up with the Key Rate Tie settings shown in the screen shot to the right.The Key Rate—Savings-Key Tie—has a current rate of 1.000%. /
With the Shock Constraints option for the Savings-Key Tie account set to Allow negative rates, a flat, Current Mix % of Total Assets, Quick Projection is performed and saved. Next, IRSA is calculated and then Scenario E (an immediate down 200 bps shock) is copied to a new model.
Example 1 – Allow negative rates
When the projected deposit account is examined in the new model, using the With Key Rate Tie view, it is apparent that the deposit account’s offering rate was able to decline to 0.500%, in the first projected month, because the Key Rate was allowed to go negative.
Example 2 – Do not allow negative rates
If the process outlined above is repeated, but this time the Shock Constraints option of Do not allow negative rates is used, the resulting offering rate for the deposit account, in the first projected month, declines to 1.000% and then remains there. Since the Key Rate is not allowed to be shocked below zero, the deposit account’s offering rate is also constrained.
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / Projected Average Balances - 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 ifan 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 averagesdid 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: The projected averages for non-rate bearing accounts, which are set up with the options listed below, are currently not calculated in the same way as other accounts:
- 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”
A change is planned, for a future release, which will prevent these accounts from having different Maturity Day and New Purchases Daysettings.
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.
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / Misc. Projections - Fixes
Getting the Fair Value in PROFITstar and PROFITstar Portfolio to Match
In prior versions of PROFITstar, certain Key Rate Tie settings could causeFair 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 largest 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.
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / Reporting – Fixes
Zero Suppression and Report Headers in Report Wizard
If multiple organizations wereincluded 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.
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / 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).
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / 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.
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / 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.
2008a.109 continued
Version / Release Date / Items Addressed2008a.109 / 02/26/2009 / Download - Fixes
Download Reset Average Age Value