What's new in the 2012 edition?

Transcription

1 What's new in the 2012 edition? Enhancements and Changes For PROFITstar, PROFITability, Profitstar Suite, and PROFITstar Portfolio Table of Contents 2012b Enhancements Page 2 Fixes Page a New Features Page 3 Fixes Page New Features Page 10 Fixes in , , , , and Page 18 Last content revision 04/10/ b Overview The PROFITstar program has been enhanced to support the new, hosted version of Budget Manager. In addition, several enhancements and one fix are also included in the current release.

2 Enhancements in 2012b PROFITstar Up to 120 Months Can Now Be Specified for Auto Calculate Months The 24-month maximum and 12-month minimum constraints have been eliminated for the Auto calculate months option found on the Matr/Repr tab of the Chart of Accounts Setup screen. Up to 120 months of historical prepayment values can now be included in the calculation. Optimizer FTP Results Are Now Available When PROFITability data is published to Optimizer, FTP results are now included for each record. Fix in 2012b.9 PROFITstar Inserting or Deleting a Cosmetic Line Could Cause an Error in Linked Models When a cosmetic line was inserted into or deleted from a Linked Model s Chart of Accounts anywhere below the Total Liab & Capital account an error was received when the program attempted to save the changes. This issue has been corrected. 2

3 2012a New Features in 2012a PROFITstar Treatment Column Added to the Discount Documentation Report A Fair Value Treatment column has been added to the Documentation > Scenario > Discount Documentation report. In addition, all accounts with a Treatment setting of Quote, Discount, or FAS107/Discount are now included in the report. Use Only Flat-Proj Column Added to the Key Rate Ties with Calculations Report A new column Use Only Flat-Proj has been added to the Key Rate Ties with Calculations Documentation report. In addition, the report data now shows results that tie to IRSA and Fair Value shocks (provided that the calculated shock scenarios match the defined Key Rate Tie scenarios.) In earlier versions, the report data matched Projections. In most cases, the Projections and IRSA/ Fair Value results were the same, unless the Use Only Flat Scenario in Projections setting was enabled for some of the key rate ties. This report is found at Documentation > Key Rate Tie > Key Rate Ties with Calculations. The MPS Decay Table Update Can Now Handle Any Provided Scenarios Previously, the MPS Decay Table update would not import +50bp and +150bp scenarios, which were being provided in files from McGuire Performance Solutions. The program could only handle files containing 100, 200, 300, 400, and 500 bp scenarios. Now, the program can update MPS Decay Table data with any McGuire file, as long as there is a match between each rate scenario in the file and the defined rate scenarios in PROFITstar. 3

4 PROFITstar Budget Risk Based % (Banks) and Risk Component (CUs) Options Enabled In the 2012a release, the Risk Based % setting has been enabled on the Bal Sheet tab of Chart of Accounts Setup for Banks running PROFITstar Budget. As a result, the Risk Based Capital ratios are now available. For Credit Unions running PROFITstar Budget, the Risk Component Chart of Accounts Setup setting is now available, along with the related Risk Based Net Worth Setup menu option. With the introduction of these changes, Risk Based Net Worth reporting now works for Credit Unions. Refer to the PROFITstar Help for more information related to these program features. Optimizer Simplified Validation for Publishing PROFITstar Data The validation that occurs before PROFITstar data is allowed to be published to Optimizer has been simplified to eliminate the need to have 3 budgets defined and for each of the budgets to be allocated. Now, the validation process checks to see that a budget containing the current time frame exists and has been allocated. Budget Manager My Review Status Chain Report Added A new report has been added to Budget Manager. Like the My Review Chain report, the My Review Status Chain report provides a treeview display of the reviewers and reviewees associated with the specified user. In addition, this new report provides the current status of each reviewer and reviewee s budget. 4

5 Circular Reference Notification If circular references in the review chain are identified, a message is now displayed when users try to enter the Budget edit grid. 5

6 Fixes in 2012a Most of the fixes included in the 2012a editions of PROFITstar, PROFITability, PROFITstar Portfolio, and Budget Manager are listed on the following pages. 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 upgrading to the most recent 2012a release. All of the issues listed here have been corrected. Fixes in 2012a.27 (Budget Manager ) Released 10/31/2012 PROFITstar "Object Reference" Error When Calculating Projections With very specific account settings, it was possible to get an Object Reference error when calculating projections. For this particular error, a Balance Sheet account needed to be set up with a Balance Sheet Tie, and with a Prepayment Method selected, which was using both the Auto calculate months and the Apply to new volume options. Unable to Save Zero Values in Projections Databank When a zero was entered into a cell in Projections Databank, the change was not saved. The value that was already saved to disk remained unchanged. Displaying Ceilings & Floors When an Account s Information is From Portfolio When an account s Maturity/Repricing information was obtained from Portfolio, the program was still displaying the % Prepay, Rate Ceiling, and Rate Floor values in the Maturity/Repricing grid even though that information was not supplied by Portfolio. Now, the grid shows empty cells instead of the invalid information, for accounts using Portfolio Detail. In addition, for the same accounts, these rows are now hidden on the Maturity/Repricing > Detail Gap report. Not a Number Error in Portfolio Data When bringing Portfolio data into PROFITstar, a Not a Number error could be received when calculating Premium/Discount amortization schedules. 6

7 Prepay Rate Tables Right-Click Paste Problem In the Tools > Maintenance > Prepay Rate Tables grids, the right-click Paste option was disabled when an attempt was made to paste data from the clipboard, which should have fit, into the last row or column of the grid. While this issue has been corrected, in cases where the data to be pasted would extend beyond the available rows or columns, the Paste option will still be grayed out. Prepayment Speed Report Displayed the Same Speed in all Rate Scenarios The Prepayment Speed Documentation report showed the same speed in all rate scenarios for accounts set up with something other than Offering Rate selected as the Prepayment Speed Driver, on the Matr/Repr tab of Chart of Accounts Setup. Now, the report will show the appropriate speeds, based on the selected driver. Note: The speeds in this report are based on the assumption that the Driver will floor at 0.00%, even if the Shock Constraints option, in Databank Setup, is set to Allow negative rates. This report is found at Documentation > Prepay / Decay > Prepayment Speeds. PROFITability Some FTP Rates on Post-Allocated Subtotals Seemed Drastically Inflated An unusually high Post-Allocated FTP rate on subtotal accounts was occasionally being identified, due to the way the allocations process was calculating the weighted average rate. Post-Allocated FTP Charge/Credit for Subtotals was Doubled In the 2012 versions of PROFITability, the post-allocated FTP Charge/Credit value for subtotals was doubled, in all organizations, when subtotals were calculated using the Tools > Maintenance > Recalculate Totals option. Note: This post-allocated data item can be found in the History and Budget modules. Overstated Values in Organization and Product Allocations PA was not ignoring the balances at the roll-up levels when levels were set as Main with Branches Asset Balancing or Main with Branches Liability Balancing. The result was overstated values in Organization and Product Allocations. 7

8 Error When No Rules, Methods, or FTP were Defined On a dataset that was newly defined as PROFITability or PROFITstar Suite, an error could be received when saving out of Chart of Accounts Setup if no Rules, Methods, or FTP had yet been defined. Now, this possibility is allowed for in the saving out of Chart of Accounts validation. Portfolio Portfolio Ignoring Key Rate Values that Reached Zero It was discovered that when decreasing shocks were applied, Portfolio was ignoring key rate values that reached zero. When this occurred, the program looked through prior months for the last non-zero value. If no non-zero value was found, prior to the current month, then the current month value was used. This typically produced a Present Value the same as the Flat Rate scenario, which was incorrect. Now, when retrieving rates in Portfolio, if a shocked rate value is zero, the program will use it to calculate the present value so that the calculation doesn t return a value the same as the Flat Rate scenario. The following features in Portfolio are affected by this change: Market Risk when the Market Value Source is set to Discount Callable securities with Call Methodology set to Yield Curve or Strike Rate Borrowings with an Interest Type of Convertible, when comparing the Strike Rate The Yield Curve graph Yield Curve or Redemption Strike Rate not Defined in the Security Detail Screen If a user enters the Security Detail screen, but does not define a Yield Curve or Redemption Strike Rate, the program will now provide a warning but will allow the user to save and exit. When this occurs, the program will use 0.00% as the value of these fields, until other values are provided. 8

9 Budget Manager Erroneous Offering Rate Entries on the Import Log When importing Offering Rates to PROFITstar, it was not uncommon to receive erroneous import conflict notices showing rates from Budget Manager but valid rates were still imported to PROFITstar. Users will no longer see these import conflict notices. Problem if the First Imported Month did not Equal the First Projected Month During the Import process, both Month-end and Average balances were being sent to PROFITstar. If the first projected month in PROFITstar did not match the first projected month in Budget Manager, the Average balance (brought in last, after the Month-end balance) would be the persisted value which made it necessary for the Month-end values to adjust sometimes fluctuating wildly. Now, the Data Item selection in Budget Manager determines which value is sent to PROFITstar on Import. Import Not Detecting Certain Conflicts The Import process was not detecting conflicts when values in both Budget Manager and PROFITstar had changed, and a re-export had been performed. Copy Budget Process Failure In prior versions of Budget Manager, the Copy Budget process would fail if a budget contained more than 700 accounts and subledgers. Problems with the Non-Interest Income/Expense Subledgers Report While the Non-Interest Income/Expense Subledgers report showed the correct subledger accounts, it displayed zeros for all accounts and time frames. In addition, Databank was incorrectly displayed as the report header. Incorrect Growth Statistic Values The Growth Statistic values, at subtotal levels, were being calculated incorrectly. Now, they are calculated the same way as the detail accounts (which is also the way they are calculated in PROFITstar). 9

10 2012 Overview The 2012 release contains numerous performance enhancements; prepayment and decay rate option changes; enhancements related to the new Budget Manager product; as well as a few graph changes. In addition, a number of important fixes are included. PROFITstar Portfolio Note: The premium/discount calculations in Portfolio have been improved in the 2012 edition. Users who download Portfolio information into PROFITstar will likely see results change in Maturity/Repricing and IRSA. While there is still work to be done related to premium/discount amortization for variable-rate securities, the corrections that have been completed are being released in the 2012 edition, to give users immediate access to this improved behavior. New Features in 2012 Performance and Process Improvements Areas of the Program Changed to Benefit from Multiple Processors This release includes performance improvements in several areas, including: The Move & Link (Download) process Consolidations Balancing with Nested Units The Maturity/Repricing Auto Update process Loading Projections Recalculating Ratios (Tools menu option) Exporting budgets to Budget Manager Many of these improvements are achieved by enhancing the application to make better use of its available hardware, including the use of multiple processors. We encourage PROFITstar users to check that the PC they use to run PROFITstar has more than a single processor. PCs with dual or quad core processors are the ones that will realize the most benefit from these performance enhancements, since each core processor is used for portions of a task allowing tasks to run concurrently, which reduces the amount of time needed to complete the overall task. 10

11 Set Up Scheduled Tasks A task scheduling tool has been added to PROFITstar. For the 2012 edition, the first task to be made available for scheduling is Calculate ratios for all organizations. The ratios affected are pre-allocated, Standard and Regulatory. This process can now be scheduled to run at off-peak hours. You select the Models for which ratios will be calculated (Base and What-Ifs), and define the Start and End times. This new option is found under Tools > Scheduled Tasks. OTS Removal and Replacement Changes Due to the OTS no longer providing source data for prepayment purposes, in the 2012 release, all OTS references and functionality has been removed and alternative functionality introduced Conversion When you launch PROFITstar, after converting to the 2012 version, you will see a message regarding the removal of the OTS Prepay Methods. The Warning box includes a link to a conversion log that shows the accounts that were previously set up with an OTS Prepay or Decay method. For each affected account, the log shows the chart of accounts line number, the account name, and OTS method that was in use before the conversion. 11

12 During conversion, several OTS-related actions occur: The OTS Prepayment methods and Coefficients Table is removed. Any accounts in the chart of accounts set to use any of the OTS methods are reset to None. All OTS Prepay/Decay related references and reports are also removed from the Report Wizard. Any saved Wizard Reports are removed from the Saved Custom Reports list if they referenced an OTS Prepay or Decay Rate report. OTS Prepayment Documentation reports added to a Multiple Reporting Group are still displayed in Report Central as part of the group but nothing is printed for these reports. This behavior is intended to remind users that any prepayment reports in Report Central should be replaced with the new Mortgage Prepayment Table report. The OTS Prepayment Rate Estimates and OTS Decay Rate Estimates reports were removed from the Examiner Report Packet. The Download OTS Prepayment Coefficients prompt is removed from Update Wizard. Mortgage Prepay Rate Table In response to the removal of all OTS prepayment and decay rate functionality in PROFITstar, a new Prepay Rate Tables option, called Mortgage Prepay, has been created. Whether your prepay source is a third party vendor or the result of an internal decay study, PROFITstar provides you with an easy way to enter this information into the model. In the Mortgage Prepay table, you can define multiple categories. For each category you are able to create unique sets of age and coupon groupings, and specify prepay rate speed details. 12

13 After Mortgage Prepay categories are created, each can be associated with multiple accounts, on the Matr/Repr tab of Chart of Accounts Setup. Go to Tools > Maintenance > Prepay Rate Tables to find and set up Mortgage Prepay rate tables. Refer to the online Help for more information. Prepayments Prepayment Speed Driver A new field called Prepayment Speed Driver has been added to the Matr/Repr tab of Chart of Accounts Setup, in the Prepayment/Decay area. This setting is used to define the rate in the Current Month that should be used for the compare in shocked rate environments. The selected rate will be used to calculate the change in rate, which is used to determine the prepayment or decay speed to apply. The rates that can be selected are: Offering Rate and all defined Key Rates, when you are focused on rate-bearing accounts. Discount Rate and all defined Key Rates, when you are working with non-ratebearing accounts. The default selections are Offering Rate or Discount Rate (where applicable), which duplicates the pre-2012 results. This setting is disabled if no Prepay or Decay method is defined for the account. Prepayment Rates are No Longer Extrapolated in PROFITstar Related to the new Mortgage Prepay tables is a change in the use of extrapolation when calculating prepayment speeds. In versions prior to 2012, PROFITstar calculated extrapolated prepay values for shocks that extended beyond the defined scenarios, using the values for the scenarios that were defined Beginning with the 2012 version, PROFITstar will no longer extrapolate prepayment rates. Instead, for shocks that are greater than the largest shock supplied, the rate for the largest shock will be used. For shocks that are less than the smallest shock supplied, the rate for the smallest shock will be used. 13

14 Change to the Layout of Shock Scenarios To improve the relationship between the display of data in source documents or files and how we display it in PROFITstar screens and reports, the order of shock scenarios when displayed as columns has been modified. Now, the negative shock scenarios are positioned to the left of the Base scenario (Flat Rate scenario) and the positive shock scenarios are on the right. This change makes it easier to manually input speeds since PROFITstar s screens should now match the layout of the source data. Note: When shock scenarios are shown as rows, PROFITstar was already correct displaying the largest positive shock on top and the lowest negative shock on the bottom. Download Downloading Count Statistics The Databank Download Setup has been modified to make it possible to "Count" the records in a transaction file, and then place the resulting statistic in a Databank account created for that purpose. The statistic can then be used in Allocations. General Items New Statistic Data Items Added A new field Closed Date has been added to all Application File types. The primary reason for adding this field is to make it possible to gather Closed Account statistics for non-maturity Demand type accounts. If the Closed Date equals the Current Month, the record will be included in the Number of Closed Accounts statistic. The program will also capture the Average Life of Closed Accounts, for the current month, if the Origination Date is being downloaded. If the Origination Date field is defined, but there is no value for a downloaded record, that record will be excluded from the Average Life of Closed Accounts calculation. These Balance Sheet data items can be examined in the History, Projections, and Budget modules if you click the Data button and select the Statistic data items. The Number of Closed Accounts and Average Life of Closed Accounts items are also available to be used in Ratios, Projection Formulas, Methodology Formulas, the Report Writer, and in the Trend report. These items are consolidated from lower organizations to the consolidated level in the same manner as the other statistical values. 14

15 Graphs Bar Graphs Displaying a Repeating Time Frame Pattern on the Date Axis In prior versions, it was necessary to use a workaround to create bar graphs that showed annual time frames (or some other repeated time frame sequence), for a particular account or ratio, where the time frames displayed correctly on the date axis. With the changes in the 2012 edition, this is now easy to accomplish. The key things to remember are to: Specify the appropriate Floating or Fixed time frames for the graph. Under the Modify Graph options in the selection boxes at the top of the panel choose Graph Axes and then Bottom Axis (for a Vertical Bar Graph) or Left Axis (for a Horizontal Bar Graph). Then, select Grid > Increment in the Property column of the Graph Properties panel. Choose the Increment setting that matches your time frame selection (Three Months, Six Months, One Year, etc.). Next, in the same Property column, select the new Labels > Style option and choose Point Value as the setting. Note: During the 2012 conversion process, Bar Graphs utilizing repeated time frame sequences will be modified to use the new Point Value Style setting. Bar Graphs that don t use a repeating pattern of time frames will not be changed. 15

16 New Budget Manager-Related Functionality Tools Menu Changes Two Tools menu options are now displayed for Budget Manager. The option to access the old version of Budget Manager has been renamed to Legacy Budget Manager. The log-in screen is the same as before and a user s old credentials will work. The Budget Manager menu item provides access to the Export and Import functionality for the 2012 version of the program. When either the Export or Import option is selected, the log in screen for the 2012 version of Budget Manager prompts users for the Budget Manager Server URL and for their user credentials. Linked Models In conjunction with the introduction of the new Budget Manager product, the concept of a Linked Model has been introduced. When a model is linked, the program enforces certain requirements to ensure that the model s charts are synchronized with the Base Model. As a result, projected budget data can be exported to Budget Manager from a linked what-if model and later imported back into the Projections module of the same model. When a new budget is created in that what-if model, and is subsequently copied to the Base Model, there should not be any problem with the compatibility of the charts of accounts since the two models have the same chart structure. At this time, a model can only be linked when a new model is created using the Base Model as the source. When the Model Setup tab is displayed, during the File > New > Model process, the Linked to Base Model setting is selected by default. While you may clear this setting before proceeding, be aware that this option cannot be reselected once the model is created. The Linked to Base Model setting is automatically cleared if a new model is created from another model with no link to the Base Model. When you are working in a linked model and you open a chart-related screen, such as Chart of Accounts Setup, you will see the following message: 16

17 Any chart structure changes made in the Base Model, or in any linked model, will affect all linked models. For example, if an account is added to What-If #8 a linked model then the new account will also appear in the Base Model and every other linked model. Settings that are linked include: Adding or Deleting accounts Account Type Rate Information Account Level Report Cosmetics Anything else that currently affects whether charts are in sync. Settings that remain unique, even in Linked models, are: Short Title / Long Title / GL Account Risk Based % Pool # Cash Flow Special Account Code Auto Update Prepayment Settings Fair Value Settings Maturity Timing Repricing Timing Formulas Ceiling/Floor Settings Advanced Settings Accrual Basis Tax Information If a single-model backup of a linked model is restored into existing data, the link is removed. Alternatively, if a single-model backup of a linked model is restored into a new directory so that it becomes the new Base Model the link checkbox is grayed out, in Setup > Preferences > Model Setup. Users will receive warning messages if they attempt to delete a linked model or copy over one using File > Copy > Model. 17

18 Fixes in 2012 Most of the fixes included in the 2012 editions of PROFITstar, PROFITability, and PROFITstar Portfolio are listed on the following pages. 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 upgrading to the most recent 2012 release. All of the issues listed here have been corrected. Fixes in Released 09/28/2012 PROFITstar Portfolio / PROFITstar Prem/Disc Amortization Issue for Securities with a First Day Principal Payment Beginning with the initial release of 2012, PROFITstar Portfolio clients with MBS and CMO securities held at a discount, with maturity dates on the first day of the month, saw significant differences in Premium/Discount values when the Portfolio data was downloaded into PROFITstar. This resulted in changes to maturity/repricing, projected income, and projected portfolio rates for existing volumes, which affected IRSA and Fair Value results. While the fix released in corrects the problem described above, the fix will also have some effect on the Premium/Discount values, and therefore the projected results, of all clients that download Portfolio results into PROFITstar. After upgrading to the latest version, clients will see the full effect of the changes when they perform their next monthly update. To see the effect before running a monthly update, clients can run Tools > Update Calculated Fields in Portfolio and then download Portfolio results into PROFITstar again. 18

19 Fixes in (Budget Manager ) Released 08/10/2012 PROFITstar - IRSA and Fair Value Prepayment Speed Driver Rates Not Shocked in IRSA and Fair Value Rates specified for the new Prepayment Speed Driver were not being shocked when IRSA or Fair Value was calculated. PROFITstar - Projections Accounts for Recognizing FAS 91 Amortizing Fee Income Are Zero in Projections In prior 2012 releases, the non-interest income accounts set up for recognizing FAS 91 amortizing fee income stopped working in projections. Even though the accounts were set up, the accounts displayed all zeros in Projections. In addition, the necessary balance sheet tie, on the Inc Proj tab of Chart of Accounts Setup, was missing, and the Recognized Income/Expense setting, which should have been selected, was cleared. Budget Manager Export and Import Exporting Extremely Large Datasets Attempting to export extremely large datasets, from PROFITstar to Budget Manager, resulted in an error. Import Brings No Data into PROFITstar Under Very Specific Circumstances Importing Budget Manager data into PROFITstar, when a budget contained multiple users who only had edit rights to a limited number of accounts in different organizations, resulted in NO data being brought back into PROFITstar. Error Returned when the Export Adjustments Link is Clicked At the end of the Import process, an Information box is displayed if some budgeted values cannot be imported. In prior versions of Budget Manager, if some imported Budget Manager accounts used formulas that were not correctly formed, an error was received when the Export adjustments link, in the Information box, was clicked. 19

20 Budget Manager Reports New Save Reports to File Option Previously, some users with Windows Internet Explorer, version 7 or 8, who were not allowed to change their browser s settings, could not view Budget Manager reports. Now, a new Save Reports to File option has been added to the Settings page. If this option is selected, then when any report is defined, the Export Report button is replaced with a Save Report to File button. This lets the user specify a file name and a saved location for the report. When the file is created, the user can open and view the report. Assigned Budgets Report The Assigned Budgets report returned an error when the Export Report button was clicked. User Permissions Report When an Admin was reviewing the User Permissions report for other users, the correct organizations were not always displayed. 20

21 Fix in Released 07/03/2012 PROFITstar Chart of Accounts Specific Type of Chart Change Resulted in an Error in Linked Models In prior versions of 2012, an "Object reference not set to an instance of an object" error occurred if a user was working in a linked model; had a gap in the Balance Sheet chart (where a non-interest income/expense account existed); and cut an account from the chart of accounts and then pasted it back into the chart, anywhere below the gap in the Balance Sheet chart. The error was observed when the user tried to save out of Chart of Accounts Setup. Fixes in Released 06/19/2012 PROFITstar Portfolio-Related Items Bloomberg Cash Flows and Download Error in PROFITstar When the Bloomberg service was used to provide cash flows for Portfolio, an InterfaceBrokerException occurred when PROFITstar subsequently attempted to download the Portfolio data. Issue with the Total Maturity Amount of Zero Coupon Bonds in Maturity/Repricing Changes made in the initial 2012 release introduced a problem with callable zero coupon bonds treated at book. As a result, the total maturity value for these instruments, in the Maturity/Repricing module in PROFITstar, did not match the total book value in Portfolio. Invalid IRSA and FV Validator Maturity/Repricing in balance Warning In 2011a, and earlier versions, the Repricing Amount was calculated by summing balances at the first repricing opportunity. A change in the initial 2012 release caused this calculation to begin summing the balances from each of the repricing opportunities. As a result, the Fair Value/IRSA validator was indicating that the total repricing amount did not equal the current month-end balance, for variable rate accounts using PROFITstar Portfolio detail. 21

22 Despite this validation warning, the calculated results for IRSA and FV are actually the same in both the 2011a and 2012 versions. Now, the IRSA and FV validation behavior has been changed back to its original state, where it only sums the balances at the first repricing opportunity. Portfolio Market Values Ignored in Non-Standard Rate Shocks in Fair Value In the initial release of 2012, when calculating Fair Value in PROFITstar, market values supplied by Portfolio for non-standard rate environment shocks were ignored. For example, if a +400 shock was added to Rate Environments Setup, and market values were supplied in Portfolio, the values for the +400 shock were not used in PROFITstar s Fair Value calculations. Instead, the values for the +300 shock were used for both the +300 and +400 rate environments. The program handled this correctly in 2011a. The correct behavior has now been restored. Download Out of Memory Exception Received During the Download Link Some large institutions (typically, holding companies) could receive an OutOfMemoryException, when performing the monthly Move and Link, due to the PROFITstar program failing to release memory that it no longer required. Projections Error Caused by Missing Total Investments Special Account Code When the Projections module was balanced, and the Total Investments special account code was not assigned to any Balance Sheet account, a NullReferenceException occurred. 22

23 PROFITability-Specific Issue Error Received when Recalculating Ratios for Multiple Products If a client using PROFITability allocation groups tried to recalculate ratios for multiple products, using the Tools > Maintenance > Recalculate Ratios menu command, the request failed with an error message: Parallel ratio calculations do not currently support multiple products in multiple organizations. The problem should occur only at institutions that are holding companies, have Product Profitability, and try to recalculate ratios for more than one product at a time. Even without this fix, the error can be avoided by recalculating ratios for one product at a time. Budget Manager Import Importing Budget Manager Data into PROFITstar When Budget Manager data is imported into PROFITstar, if a conflict with the remaining balance from Maturity/Repricing is identified, PROFITstar is supposed to alert the user to this situation by displaying a message and providing access to a log of the excluded or modified accounts. In the initial 2012 release, this prompt was not being displayed. Now, at the end of the Import process, the necessary message is displayed, if some of the budgeted values cannot be imported. 23

24 Fixes in Released 05/23/2012 Download Reject Entire Record Error Handling Issue During download error handling, if a record was only affected by one error, and the Reject entire record option was applied to deal with this error, the record was still included in the move results when it should have been ignored. All data from such records will now be excluded from the move results. Issue with Download Files that are Missing End Quotes An error was encountered when trying to access the Download Setup screen if a file being loaded to preview was missing an end quote. PROFITstar now supplies an end quote so that users will be able to access the Download Setup screen. As a result, however, the download might now produce odd results for the clients that have this issue. Supplying the missing end quote may cause the record to be identified in the Download Move as an exception. The exception details will show the full record, and users should now be able to make the necessary corrections to the file and download it successfully. IRSA and Fair Value More than Databank Key Rate Accounts Shocked in IRSA and Fair Value In IRSA and Fair Value calculations, PROFITstar was shocking Databank Statistic rates, but shouldn t have been. PROFITstar was, however, correctly calculating Product rates and rates that had a Special Account Code assigned (e.g., Federal Tax Rate, State Tax Rate, and Dividends.) Fair Value Calculations for Shocked Quote Values Previously, for the defined shock, PROFITstar calculated the actual change in rate and interpolated a Quote value from the supplied shocked Quote values. Since it is assumed that the supplied shocked Quote values take those conditions into account when the values are calculated by the provider, PROFITstar now uses the provided Quote value for the defined shock. This will also be true for instances where Ceilings or Floors apply, or when the rate floors at 0.00 in a down rate shock. 24

25 IRSA Navigator Displaying an Incorrect Slope IRSA Navigator could display an incorrect slope value on the Calculated Results page. This was shown correctly in the IRSA Matrix. This has been corrected and both the Matrix and Navigator to show the correct slope value. Maturity/Repricing Specific Action Resulted in an Error Entering Maturity/Repricing When moving from Projections to Maturity/Repricing, using the module speedbuttons, an error could occur if you were focused on a DDA account using the Auto Core/Non-Core Auto Update Action. Maturity/Repricing Error Received when Using a Distribution Action An error occurred in Maturity/Repricing if the Core/Non-Core Distribution Action was applied to an account set up with the Auto Core/Non-Core Auto Update Action. Weighted Average Life in Maturity/Repricing and Fair Value Weighted Average Life in Maturity/Repricing and Fair Value did not reflect the maturity schedule changes due to using Instrument Level Detail for an account with a Prepay Method setting of None. Prepayments "Customized by month" Resulted in an Incorrect Prepay or Decay Rate Prepayment or Decay Rate values were being divided by 100 when Customize by Month was activated in the Chart of Accounts. For example, a defined speed of 8.5 would be converted to.085, and that converted speed appeared in the Maturity/Repricing module. Auto Calculated Prepayment Speed not used for Projected New Volume When both the Auto calculate and the Apply to new volume Prepayment options were active in the Chart of Accounts, the Auto calculated prepayment speed only affected existing volume. The Auto calculated prepayment speed was not applied to projected new volume despite having the Apply to new volume setting selected. 25

26 Projections Yield Curve Twist Wizard Error when a Time Frame Became Invalid The Yield Curve Twist Wizard would return an error if a Time Frame that was no longer valid (a Historical period) was defined in the Yield Curve Twist. This situation appeared to result when a valid (Projected) time frame was selected at some point in the past, but over time, that previously-selected time frame moved into History and became an invalid time frame selection. Future Purchases Amount in Projections The Future Purchases amount in Projections (populated from PROFITstar Portfolio) was not showing as expected. Reports Maturity Activity Report For variable-rate accounts, the Maturity Activity report was reporting the Offering Rate in Projected time frames as the Ending Rate. Now, we calculate a weighted average rate on remaining balances, obeying any ceiling or floor rates for individual accounts (when Instrument Level Detail is used or when a Final Rate Tie is defined). Extraneous Information in the Variance Report Column Selection Box When creating a Variance Report, using Projection Strategy data, the Column Selection box was showing extraneous information at the bottom. As more columns were defined, more of this text appeared. IRSA Documentation Report The IRSA Documentation report could erroneously show that an account was using Instrument Level Detail even if the Use instrument level detail IRSA Edit Option had not been selected. This occurred if the account had a Prepay Type of None but Instrument Level Detail was enabled in the Chart of Accounts. The calculations, however, were correct. 26

27 Graphs Clear Back Wall Setting is not Available in PROFITstar s Graphs In prior versions, in the Modify Graph panel, if you navigated to Graph Area > Back Wall > Background > Pattern > Style there was a setting you could select called Clear. The Clear setting is no longer available in the 2012 edition. As a result, a graph that was using this option might end up with a Back Wall displaying a solid color. While it was not possible to fix this issue during the conversion process, a simple workaround is to set the Graph Area > Back Wall > Transparent option to Yes. This provides the same effect as the prior Clear setting. General Large Charts not Displayed in the Proper Order in Elimination Entry Setup When a chart of accounts exceeded 1,000 lines, the Elimination Entry Setup screen was not displaying those accounts above 1,000 in the proper order. These accounts existed in the list, but were not positioned where they should have been. Now, large charts of accounts display correctly in Elimination Entry Setup. Duplicate Account Handles Infrequently, Client Services came across instances where the same Account Handle (a behind the scenes value assigned to Chart of Accounts, Ratios, and Databank accounts) was assigned to more than one account in those charts. The Account Handles are supposed to be unique. To proactively address this issue, the program will now scan the charts of accounts, during certain operations, such as saving out of the Chart of Accounts. If a duplicate account handle condition exists, a message is displayed and the duplicate account handles are logged to the Chart Error Detection report. In some instances, users are blocked from completing tasks that utilize the account handles like running the Download and performing Allocations until the issue is resolved with Client Services assistance. 27

28 PROFITability-Specific Issues Non-Interest Income/Expense Rule Setup When users were in Non-Interest Income/Expense Rule Setup and clicked on a rule, focus was actually given to the rule below the one that was clicked. FTP Yield Curve Calculations for Loans with a Roll Date or Acquisition Date The FTP Yield Curve calculations, for loans with a Roll Date or Acquisition Date, were using the Original Balance, if it was provided for the item. This should have only been used when the Funding Date was the Origination Date. Now, for loans with a Roll Date or Acquisition Date, the funding balance is calculated from the Current Balance. 28

29 PROFITstar Portfolio-Related Items Calculations related to the Premium Amortization Calculations related to the Premium Amortization, based on remaining days in the first month, have been reviewed and improved. Previously: For an instrument held at a premium, the interest income was reduced by the premium amortization each month as the premium was expensed. Since less of the premium was expensed in the first month, the income was greater. The observed behavior was a side effect from the changes made for 2011a in the premium/discount calculations. The problems were identified when trying to match Portfolio cash flows, which occur on the payment date, to PROFITstar, which utilizes monthly/month-end values. Calculating Book Yield or the Book Value as of the Payment Date In the 2011a version, a change was made to make Book as of month-end. As a result, the calculation for Book Yield or the Book Value as of the Payment Date may not have been correct. Portfolio Future Purchases Portfolio future purchases are included in the maturity schedule, when you are in Projections in PROFITstar. Portfolio purchases, however, should only have been included if they were before the purchase cutoff. Future Fair Value calculations would get it wrong because this was not handled correctly. Amortization Schedule of Premiums and Discounts for Zero Coupon Bonds The Amortization schedule of Premiums and Discounts for Zero Coupon Bonds may not have been correct if the Zero Coupon Bond matured more than 10 years out and was showing in one of the Annual buckets. Next Reset Date for Variable-Rate Securities For variable-rate securities, if the Next Reset Date is the 1 st day of the 1 st projected month, the rate change didn t take effect until the 2 nd month. 29