I'm not sure where the best place to post this question is so I was going to start here.

One of my templates for procedures for a DDA audit includes the following:

"Verify that matured certificates are transferred to a separate general ledger account."

Can anyone help me understand why this is included in the procedures? I don't know hardly anything about the call report so was just curious where this was coming from.

Thanks for your time and help. It is appreciated.

Matured CDs are no longer time deposits - they are demand deposits.

That makes sense! Thanks for your help!

In case you need it, the reference for that statement is 204.2(b)(1)(vii)

Demand deposits may be in the form of:
(vii) Time deposits that have matured or time deposits upon which the contractually required notice of withdrawal as given and the notice period has expired and which have not been renewed (either by action of the depositor or automatically under the terms of the deposit agreement)