Cash Concentration Service Updates: U.S. Branches

Following the changes, you will see new service codes. AFP codes remain unchanged.

Generic codes will be replaced by back value sweep transaction codes to align with industry standards. The back valuation posting will be a single, consolidated adjustment per value date.

The following transaction codes will appear on BAI reporting and SWIFT MT940:

Automatic back valuation creates back-valued cash concentration transfers to target-balance accounts with back-value adjustments. Check out this example of what to expect post-migration.

Back value sweeps processed with a value date prior to the transition date will be based on the sweep configuration at the time of transition.

Existing single location¹ single currency and cross-border² single currency (end-of-day) sweeps narratives will be updated.

U.S. account numbers will be standardized to 15 digits, while international account numbers will be 10 digits (except accounts in the Brussels branch, which will be 12 digits.)

¹ Single location sweeps occur in the same country
² Cross-border sweeps occur between two different countries

You will see the following changes to the existing sweep narratives for cross-border intraday sweeps¹.

Back value sweeps processed with a value date prior to the transition date will be based on the sweep configuration at the time of transition.

¹ The value for <YYYY> will be 'INTRACOMPANY' if the entity of the payer and beneficiary are the same, and 'INTERCOMPANY' if the entities are different.

J.P. Morgan Access^® reporting enhancements

• Relocation of Intercompany reports. To access future reports, simply hover over the ‘Report & Statements’ tab, navigate to the ‘Reports Inbox’ column and select ‘Liquidity’. Historical data will still be accessible via Liquidity Statements.
• A new template for you to customize and schedule reports at your convenience
• Self-service option to adjust:
  • Intercompany loan position
  • Sub-facility limits
  • Intercompany interest rates
  • Tax codes

Check out this user guide for more details.

Here are samples of these reports.

Intercompany interest compounding

Intercompany interest is compounded for earnings/charges that adjust loan position of a prior period and the compounding effect is added to the opening loan position for the current interest cycle.

Check out this sample computation for more details.

Intercompany reporting will experience the following enhancements:

Intercompany loan amendment capabilities

You may now submit amendments for interest price points and tax codes at the entity level (previously at the individual loan level). Users entitled to intercompany loan amendments will see separate entry points to view and amend interest price points and tax codes. You must be entitled to all associated loans to amend the price point values. Check the updated J.P. Morgan Access® user guide (pages 29-47) for full details of the capability.

Check out this user guide for more details.

Please ensure to close out all loan amendments via Access before your migration date. If loan amendments are not closed out, the amendments will be rejected automatically and you will need to submit again.

Intercompany interest compounding

Intercompany interest is compounded for earnings/charges that adjust loan position of a prior period and the compounding effect is added to the opening loan position for the current interest cycle.

Check out this sample computation for more details.

Intercompany loan reporting and Access reporting enhancements

If you are receiving Intercompany loan reports through email, the sender email and subject line will also be changing to the following:

• Sender name: JPMorgan eStatement and eAdvice <notification@jpmchase.com>
• Subject line: ${eciName} - Sweep Execution Activity Report LUX <Date> #secure#

View these sample reports to see these enhancements in action.