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The Importance of Locking a Reporting Period

Brandy Aycock
April 27, 2016
Read Time: 0 min

The best way to ensure unintentional changes to reporting periods do not occur is to lock the reporting period in the Pool Browser (see Figure 1). When you lock a reporting period, you “freeze” all information in the selected reporting period and it cannot be edited. In other words, you cannot reinitiate the reporting period and unintentionally overwrite the data with new information, thus ensuring that reported reserves and historical data remains secure. After you lock the reporting period, there will be an to the left of the reporting period name (see Figure 2).

 

Please note that all Q-factor adjustments and impairments should be complete before you lock the reporting period. In the case of an emergency, MST can unlock a reporting period if requested by specific bank designees.

                   

 

 

About the Author

Brandy Aycock

Brandy Aycock is Director of Event Marketing at Abrigo.

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About Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo's platform centralizes the institution's data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.

Make Big Things Happen.

 

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