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What is ‘Statement credit limit reporting’ in the Account Service Agreement screen?


Some banks include an overdraft or credit limit within the balance on their end of day statement (MT940). That is, they report on the available balance. If this applies, you will see ‘Yes' against ‘Credit limit deducted from Global Liquidity balances'. Bankline then takes this into account for balances shown in the View Balances screen and automatic sweeping / topping transactions.

When a bank reports the available balance in its MT940 end of day statement, you will also see ‘Yes' against ‘Available balance reported' in the ‘Account services' panel of the Bank Liquidity Agreement screen. If the bank does not report the available balance in the MT940, then Global Liquidity will use the booked balance and calculate the day's cleared balance based on transaction information received within the statements.

If ‘Credit limit deducted from Global Liquidity balances' is set to ‘Yes' you will see a figure against ‘Credit limit amount'. This is in the currency of the account and is taken into account when calculating the sweeping or topping proposition.


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