Bank of America Merrill Lynch Announces Release of Multi Bank Cash Concentration on the Global Liquidity Platform

New York - 12 October 2011

Bank of America Merrill Lynch today announced the release of Multi Bank Cash Concentration (MBCC) via its centralized technology hub, the Global Liquidity Platform (GLP). The enhanced capability enables companies that work with a number of different banks, both local and global, to automatically incorporate balances held by all of those banks into a single cash concentration structure operated by BofA Merrill. MBCC is the latest addition to the GLP offering that allows clients to utilize BofA Merrill’s suite of liquidity products on a worldwide basis, regardless of their physical location.

“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 maximizing the interest earned on their working capital,” said Greg Kavanaugh, head of Global Liquidity in the 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.”

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 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.

“With its unique intraday characteristics and its sophisticated sweeping logic, MBCC stands apart from other similar tools in the marketplace,” Kavanaugh added. “This 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.”

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