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BofA Merrill releases Multi Bank Cash Concentration on their Global Liquidity Platform

The new Multi Bank Cash Concentration (MBCC) service uses BofA Merrill's centralized technology hub in their Global Liquidity Platform. The enhanced capability enables companies that work with a number of different banks, both local and global, to incorporate balances automatically held by all of their banks into a single cash concentration structure operated by BofA Merrill. MBCC is part of BofA Merrill's suite of liquidity products that enables corporate clients to manage their liquidity on a worldwide basis, regardless of their physical location.

One important feature of MBCC is its flexible intra day settings, such that funds can be moved during the business day using real-time balances and enhanced sweeping logic. MBCC transactions become visible on current day reporting through BofA Merrill's proprietary treasury management portal, CashPro® Online. Sweep transfer summary reports containing the details of the daily sweeps are provided monthly, also through CashPro.

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