âWeâre 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 maximizing the interest earned on their working capital,â said Greg Kavanaugh, head of Global Liquidity in the Global Treasury Solutions group. âIn 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.â
One distinguishing feature of MBCC is its flexible intraday settings, such that funds can be moved during the business day using real-time balances and enhanced sweeping logic. Client feedback about the intraday capabilities of MBCC has been positive, as the option gives clients an even greater degree of control and transparency over their accounts. MBCC transactions become visible on current day reporting through BofA Merrillâs proprietary treasury management portal, CashProÂ® Online. Sweep transfer summary reports containing the details of the daily sweeps are provided monthly, also through CashPro.
âWith its unique intraday characteristics and its sophisticated sweeping logic, MBCC stands apart from other similar tools in the marketplace,â Kavanaugh added. âThis product coupled with the larger GLP offering delivers on our goal of providing clients with innovative liquidity tools with global consistency, and further establishes Bank of America Merrill Lynch as a leader in the field of liquidity solutions.â