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Q:

What are the ‘Intra-day update (MT942)’ settings in the Bank Liquidity Agreement screen?

A:

Intra-day updates provide a more up-to-date cleared balance position during the course of the day. There are three settings:

On request - indicates whether the partner bank is able to send an intra-day update (MT942) at the same time each day in response to an automatic request from the Global Liquidity system. This request is sent at a set number of hours prior to cut-off each day (called the intra-day update timing), as specified on the Account Service Agreement.

Scheduled - indicates whether the partner bank itself is able to automatically schedule intra-day updates (MT942s) and account update requests (MT920s) are therefore not needed.

Specific times - similar to ‘On request', but the partner bank can only produce the intra-day update (MT942) at specific times during the day. If so, these times are displayed.

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