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Q:

What are the ‘Sweeping and topping’ settings in the Bank Liquidity Agreement screen?

A:

These tell you when you can expect to receive funds into your accounts.

Topping transactions are always executed, and the Master account debited, on the day they are released (providing this is prior to cut-off). For sweeping transactions, the partner bank determines the date of payment execution and debit value. Expected topping credit value varies according to currency and partner bank and this is taken into account in the displayed value.

Sweeping execution - when the partner bank will process a sweep instruction.

Sweeping debit value - when the partner bank will debit your Satellite account for a sweep instruction upon execution.

Sweeping credit value - when the partner bank will credit your Master account for a sweep instruction upon execution.

Topping credit value - when the selected bank is expected to credit your Satellite account for a topping instruction.

In all cases, a setting of zero days forward means the action should take place on the day the transaction is executed (created if for a sweeping execution) - so same-day value applies.

A topping credit value of two days forward means a topping transaction released on Monday should be credited to your Satellite account on Wednesday.

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