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Q:

What is the difference between the booked balance and the cleared balance?

A:

The booked balance is the closing ledger balance (booked funds) given in the end of day statement (MT940). This balance may include uncleared items depending on the policy of the sending bank.

The cleared balance is the available, 'true' interest-bearing balance calculated for a particular day. It includes forward-value transactions from previous statements and GL sweeping/ topping transactions proposed that day.

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