BoA Merrill adds cash concentration features to liquidity platform

BoA Merrill adds multi-cash capabilities to its centralised technology hub.

Bank of America Merrill Lynch has introduced new multi-cash capabilities to its centralised technology hub, Global Liquidity Platform. The additional enhancement, called Multi Bank Cash Concentration (MBCC), allows corporations that have multiple local and global banking relationships to automatically incorporate balances held by all partner banks into a single cash concentration structure which is operated by BoA Merrill.

“We’re pleased to now offer through the Global Liquidity Platform a powerful tool that helps clients improve visibility and control over their global cash balances, thereby maximising the interest earned on their working capital,” said Greg Kavanaugh, head of global liquidity in BoA Merrill’s global treasury solutions group. “In addition, Multi Bank Cash Concentration helps companies manage their counterparty limits and sovereign exposure, which in the current economic environment continues to be a focus for many of our clients.”

According to BoA Merrill, one standout feature of MBCC is its flexible intraday settings which allow funds to be moved during the business day using real-time balances and enhanced sweeping logic. MBCC transactions are visible on current day reporting via the bank’s treasury management portal, CashPro Online. In addition, sweep transfer summary reports which contain details of daily sweeps are also provided each month through CashPro Online.

BoA Merrill recently enhanced the CashPro Invest module of CashPro Online allowing its clients to enter orders and obtain information and reporting for US dollar-denominated money market mutual funds and other short-term investment products.

BoA Merrill’s Global Liquidity Platform enables it to provide consistent, seamless and integrated liquidity solutions to its clients globally. It encompasses operational, liquidity and product specific components or modules that offer the bank’s clients liquidity concentration products, global account connectivity and enhanced reporting capabilities.

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