Automate Your Reports of Condition (RC Reports) Processing
Deliver accurate, timely RC reports and minimize manual effort
The quarterly FDIC filing requirements for Reports of Condition (RC) present many challenges to banks: multiple classifications requirements, changes to classifications over time, new guidance from the FDIC on new and existing classifications, and more. Clearwater improves banks’ quarter-end regulatory reporting process by providing accurate and automated RC reports.
“The conversion to Clearwater substantially upgraded our investment accounting system, investment data quality, and risk monitoring. The automated download of investment activity from our custodian into Clearwater means our staff spends far less time on gathering and entering data and far more time on value-added activities such as reporting and monitoring.”
–Mark Ingalls,Executive Vice President and CFO, Dedham Institution for Savings
Accurate and Reconciled Investment Accounting
Clearwater’s market-leading investment accounting engine is independent, accurate, precise, and robust—and it is updated daily. No other investment accounting platform can provide you with up-to-the-day, audit-quality accounting information—regardless of the number of accounts, safekeeping institutions, or security types—to generate your
Clearwater’s proprietary classification process will automatically assign RC-B, RC-B Memoranda, RC-K, and RC-R classifications to the securities in your portfolio. As a daily system, Clearwater will use the most up-to-date information to correctly classify securities for these investment-related RC reports. This means you will no longer need to manually classify securities for each RC schedule, or reclassify the RC-B Memoranda classifications as the securities approach their maturity date. Instead, you will have more time to analyze your data and make strategic decisions about