What is reclassifications?

reclassifications definition and meaning on Finance terms:
An aggregate in monetary statistics that comprises changes in the MFI balance sheet that are due to a change in the MFI reporting population, to corporate restructuring, to a reclassification of assets and liabilities and to the correction of reporting errors (whenever the reporting error can be totally removed from the series, no specific reclassification needs to be reported). The occurrence of these factors gives rise to breaks in the series and, hence, affects the comparability of successive end-of-period levels. <