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    From startups to legacy brands, you're making your mark. We're here to help.

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Cash Concentration Service Updates: U.S. Branches

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

Current New
Service Code Description AFP Code Service Code Description AFP Code
1512
 Intraday Cash Cntrn Maint

 

 

Master- 010020

 

 

Sub-010021

 

 

 

 

5741

 

 

In-country Sweep Master

 

 

 

Master- 010020

 

Sub - 010021
1513 Cash Cntrn Transfer Maint
7856 Cash Cntrn Maint Master

 

 

5742

 

In-country Sweep Participant
7857 Cash Cntrn Maint Sub
1514 Intercompany Reporting 5743 Intercompany Reporting
1515 Cross Border Sweep Sub-010021 5744 Cross Border Sweep Sub-010021
1510 Cash Cntrn Return Of Fnds Svcs N/A Discontinued N/A
1511 Cash Cntrn Backvalue Svcs N/A Discontinued N/A

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:

  Transaction Code
Transaction Type
 BAI Code SWIFT Code
Current
 New Current New
Back value sweep adjustment 372 275 NVDA FCMS
Back value sweep adjustment reversal 672 NMSC

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.)

Channel Current Platform New Platform
Intraday sweep REMARK XXXXINTRADAY CASH CONCENTRATION
TRANSFER CREDIT FROM ACCOUNT XXXXXXXXXXXXXXXXXXXX TRN: XXXXXXXXXXXX		 YOUR REF XXXXZERO BALANCINGREMARK XXXXCASH CONCENTRATION TRANSFER CREDIT FROM ACCOUNT
XXXXXXXXXXXXXXX TRN: XXXXXXXXXXXX
Intraday BAI 16,275,XXXXXXXXX,S,XXXXXXXX,0,0,XXXXXXXXXXXX, XXXXXXXXXXXXXXXXXXXX/
88,REMARK=INTRADAY CASH CONCENTRATION TRANSFER CREDIT FROM ACCOUNT XXXXXXXXXXXX
88,XXXXXXXX TRN: XXXXXXXXXXXX		 16,275,XXXXXXXXX,S,XXXXXXXX,0,0,XXXXXXXXXXXX, XXXXXXXXXXXXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=CASH CONCENTRATION TRANSFER CREDIT FROM ACCOU
88,NT XXXXXXXXXXXXXXX TRN: XXXXXXXXXXXX
Cross-border sweep REMARK XXXXCASH CONCENTRATION CROSS-BORDER TRANSFER TO ACCOUNT XXXXXXXXXXXXXXXXXXXX FOR A/C XXXXXXXXXX TRN: XXXXXXXXXXXX REMARK XXXXCASH CONCENTRATION TRANSFER CREDIT FROM ACCOUNT XXXXXXXXXX TRN: XXXXXXXXXXXX
Cross-border BAI 16,575,XXXXXXXXX,S,XXXXXXXXXXX,/ 88,REMARK=CASH CONCENTRATION CROSS-BORDER TRANSFER TO ACCOUNT XXXXXXXXXXXXXXX F
88,OR A/C XXXXXXXXXX TRN: XXXXXXXXXXXX

16,275,XXXXXXXXX,S,XXXXXXXX,0,0,XXXXXXXXXXXX,/
88,REMARK=CASH CONCENTRATION CROSS-BORDER TRANSFER FROM ACCOUNT XXXXXXXXXXXXXXXX
88,FOR A/C XXXXXXXXXX TRN: XXXXXXXXXXXX		 16,275,XXXXXXXXX,S,XXXXXXXX,0,0,XXXXXXXXXXXX, XXXXXXXXXX/
88,REMARK = CASH CONCENTRATION TRANSFER CREDIT FROM ACCOUNT XXXXXXXXXX TRN: XXXXXXXXXXXX
CAMT/ISO Statement <RmtInf>
<Ustrd>REMARK=SWEEP REF TO: XXXXXXXXXX (CCY Branch)FR: XXXXXXXXXX (CCY Branch) YYYY LPQXXXXXXXXXXXX TO: (Branch) FR: (Branch)</Ustrd>
<Ustrd>;YOUR REF=ZERO BALANCING
</RmtInf>		 <RmtInf>
<Ustrd>YOUR REF=ZERO BALANCING;REMARK=SWEEP REF XXXXXXXXXXXX TO: XXXXXXXXXX (CCY Branch) FR: XXXXXXXXXX (CCY Branch) YYYY LPQ)</Ustrd>
<Ustrd> XXXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME</Ustrd>
</RmtInf>

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.

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.

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).

Channel          Current Platform New Platform
Swift MT940 (Version 1) :61: 2209300930DY500000, NCMZNONREF / /
LPQXXXXXXXXXXXX
Sweep Debit – Zero Bal – 575
:86: SWEEP REF
TO: XXXXXXXXXX JPY SINGAPORE
FR: XXXXXXXXXX JPY TOKYO, JAPAN
<YYYY> LPQXXXXXXXXXXXX
TO: CR ACCOUNT NAME
FR: DR ACCOUNT NAME		 :61: 2209300930DY11711342832, NCMZF726907 / / LPQXXXXXXXXXXXX
Sweep Debit – Zero Bal – 575
:86: SWEEP REF XXXXXXX TO: XXXXXXXXXX JPY SINGAPORE FR: XXXXXXXXXX JPY TOKYO, JAPAN <YYYY> LPQXXXXXXXXXXXX TO: CR ACCOUNT NAME
FR: DR ACCOUNT NAME
Swift MT940 (Version 2) :61:2210181018CR6608421,97NCMZNONREF//LPQXXXXXXXXXXXX
:86:BAI-275 Detail ZBA Credit++, SWEEP REF To XXXXXXXXXX INR Mumbai, India Fr XXXXXXXXXX INR Mumbai, India <YYYY> LPQXXXXXXXXXXXX To ACCOUNT NAME Fr ACCOUNT NAME AR		 :61:2210181018CR6608421,97NCMZNONREF//LPQXXXXXXXXXXXX
:86:BAI-275 DETAIL ZBA CREDIT++, SWEEP REF TO XXXXXXXXXX INR MUMBAI, INDIA FR XXXXXXXXXX INR MUMBAI, INDIA <YYYY>  LPQXXXXXXXXXXXX TO ACCOUNT NAME FR ACCOUNT NAME AR
Swift MT940 Debit via Host-to-Host (Version 1) :61:2210181018CR6608421,97NCMZNONREF//LPQXXXXXXXXXXXX
:86:BAI-575 Detail ZBA Debit; SWEEP REF To 1111111111 INR Mumbai, India Fr 9999999999 INR Mumbai, India <YYYY>  LPQXXXXXXXXXXXX To CR ACCOUNT NAME Fr DR ACCOUNT NAME		 :61:2111291129DD946937,57NCMZ006301546044509//LPQXXXXXXXXXXXX
:86:BAI=575;YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 INR MUMBAI FR: 9999999999 INR MUMBAI <YYYY>  LPQXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME
Swift MT940 Debit via Host-to-Host (Version 2) :61:2403190319DD22720,06NCMZXXXXXXXX//LPQXXXXXXXXXXXX
:86:575;YOUR REF=ZERO BALANCING;REMARK=SWEEP REF TO: 111111111 GBP LONDON, UK FR: 999999999 GBP LONDON, UK <YYYY> LPQXXXXXXXXXXXX 		 :61:2111291129DD946937,57NCMZ006301546044509//LPQXXXXXXXXXXXX
:86:BAI=575;YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111  GBP LONDON FR: 9999999999  GBP LONDON <YYYY> LPQXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME
Swift MT940 Credit via Host-to-Host (Version 1)   :61:2210181018CR6608421,97NCMZNONREF//LPQXXXXXXXXXXXX
:86:BAI-275 Detail ZBA Credit; SWEEP REF To 1111111111 INR Mumbai, India Fr 9999999999 INR Mumbai, India <YYYY> LPQXXXXXXXXXXXX To CR ACCOUNT NAME Fr DR ACCOUNT NAME  		 61:2111291129DD946937,57NCMZ006301546XXXXX//LPQXXXXXXXXXXXX
:86:BAI=275;YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 INR MUMBAI FR: 9999999999 INR MUMBAI <YYYY> LPQXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME
Swift MT940 Credit via Host-to-Host (Version 2)   :61:2403190319CM22720,06NCMZXXXXXXXX//LPQXXXXXXXXXXXX :86:275;YOUR REF=ZERO BALANCING;REMARK=SWEEP REF TO: 1111111111 GBP LONDON, UK FR: 9999999999 GBP LONDON, UK <YYYY> LPQXXXXXXXXXXXX :61:2111291129DD946937,57NCMZ006301546044509//LPQXXXXXXXXXXXX
:86:BAI=275;YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 GBP LONDON FR: 9999999999 GBP LONDON <YYYY>  LPQXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME
BAI Debit via Host-to-Host (Version 1) 16,575,520730,0,LPQXXXXXXXXXXXX,53700XXXXX/
88,PAYDET=SWEEP REFXYZTo: 1111111111 USD Mumbai, IndiaFr: 9999999999 USD Mumbai, I
88,ndia<YYYY> LPQXXXXXXXXXXXX		 16,575,34012508,0,LPQXXXXXXXXXXXX,88300XXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 USD MUMBAI F
88,R: 9999999999 USD MUMBAI <YYYY> LPQXXXXXXXXXXXX TO: ACC NAME 1 FR:
88,ACC NAME 2
BAI Debit via Host-to-Host (Version 2) 16,575,35656562,0,LPQXXXXXXXXXXX,769XXXXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF TO: 1111111111 GBP LONDON, UK FR: 0
88,999999999 GBP LONDON, UK <YYYY> LPQXXXXXXXXXXXX
 		 16,575,34012508,0,LPQXXXXXXXXXXXX,8830XXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 GBP LONDON F
88,R: 9999999999 GBP LONDON <YYYY> LPQXXXXXXXXXXXX TO: ACC NAME 1 FR:
88,ACC NAME 2
BAI Credit via Host-to-Host (Version 1) 16,275,37986990,S,37986990,0,0,LPQXXXXXXXXXXXX,883005XXXXX/
88,PAYDET=SWEEP REF XYZTo: 1111111111 USD SingaporeFr: 9999999999
88,USD Singapore<YYYY>LPQXXXXXXXXXXXX		 16,275,37986990,S,37986990,0,0,LPQXXXXXXXXXXXX,88300XXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 USD SINGAPORE F
88,R: 9999999999 USD SINGAPORE <YYYY> LPQXXXXXXXXXXXX TO: ACC NAME 1 FR:
88,ACC NAME 2
BAI Credit via Host-to-Host (Version 2) 16,275,35656562,S,35656562,0,0,LPQXXXXXXXXXXX,4138XXXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF TO: 1111111111 GBP LONDON, UK FR: 0
88,9999999999 GBP LONDON, UK <YYYY> LPQXXXXXXXXXXX
 		 16,275,37986990,S,37986990,0,0,LPQXXXXXXXXXXXX,88300XXXXX/
88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XYZ TO: 1111111111 GBP LONDON F
88,R: 9999999999 GBP LONDON <YYYY> LPQXXXXXXXXXXXX TO: ACC NAME 1 FR:
88,ACC NAME 2
CAMT/ISO Statement <RmtInf>
<Ustrd>REMARK=SWEEP REF TO: XXXXXXXXXX (CCY Branch)FR: XXXXXXXXXX (CCY Branch) YYYY LPQXXXXXXXXXXXX TO: (Branch) FR: (Branch)</Ustrd>
<Ustrd>;YOUR REF=ZERO BALANCING</Ustrd>
</RmtInf>		 <RmtInf>
<Ustrd>YOUR REF=ZERO BALANCING;REMARK=SWEEP REF XXXXXXXXXXXX TO: XXXXXXXXXX (CCY Branch) FR: XXXXXXXXXX (CCY Branch) YYYY LPQ</Ustrd>
<Ustrd>XXXXXXXXXXXX TO: CR ACCOUNT NAME FR: DR ACCOUNT NAME</Ustrd>
</RmtInf>

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.

Upon transitioning to the new platform, the customer legal name and address we have on file will display on your payment messages and transaction statements, including (but not limited to):

  • MT103
  • MT101
  • MT940
  • MT942
  • CAMT.53
  • CAMT.52
  • BAI2
  • BTR

To comply with payment standards and regulations, Multibank sweeps will have a standardized Tag 70 line 4—resulting in a consolidated Third Party Bank name.

Existing sweeps narratives for single currency single location just-In-Time and single currency cross-border just-In-Time sweeps will see the following updates:

 

Just-In-Time
Single Currency Single Location

Just-In-Time
Single Currency Cross-Border

Debit – BAI

16,699,<Amount>,0,LPQXXXXXXXXXXXX,F726907/88,YOUR REF=XYZ,REMARK=JT TSFR REF XYZ TO: XXXXXXXXXX <CCY> <Branch ID> FR
88,: XXXXXXXXXX <CCY> <Branch ID> JPMREF LPQXXXXXXXXXXXX

16,699,<Amount>,0,LPQXXXXXXXXXXXX,R707868/88,YOUR REF=XYZ,REMARK=JT TSFR REF XYZ
TO: XXXXXXXXXX <CCY> 88, <Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> JPMREF LPQXXXXXXXXXXXX 

Credit – MT940

:61:YYMMDD1229DP2000,00NMSCF726907//LPQXXXXXXXXXXXX
Miscellaneous Debit -399
:86:JT TSFR REF XYZ TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX<CCY> <Branch ID> JPMREF LPQXXXXXXXXXXXX

-

Debit – MT940

:61:YYMMDD1229DP2000,00NMSCF726907//LPQXXXXXXXXXXXX
Miscellaneous Debit -699
:86:JT TSFR REF XYZ TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX<CCY> <Branch ID> JPMREF LPQXXXXXXXXXXXX

-

Existing Domestic Cross-currency and Just-In-Time Funding sweep narratives between the following locations will be impacted:

  • USD and SGD in J.P. Morgan Singapore branches/entities 
  • USD and AUD in J.P. Morgan Sydney branches/entities

And will undergo the following changes:

Channel

Current Platform

New Platform
MT940

:86: HDG-XXXXXXXXXX, TD-XXXXXX, B/O-/<ACC SHORTNAME>, BNF-<ACC SHORTNAME>, TEXT1-XXXXXX SWEEP REF XXXXXXX, TEXT2-TO: <ACC NUMBER> <CCY> <BRANCH>, <COUNTRY>, TEXT3-FR: <ACC NUMBER><CCY> <BRANCH>, <COUNTRY>, TEXT4-JFXREF LPQXXXXXXXXXX, PYMT-XXXX

:86: SWEEP REF XXXXXXX TO: <ACC NUMBER>  <CCY> <BRANCH> FR: <ACC NUMBER> <CCY> <BRANCH> JFXREF LPQXXXXXXXXXXXX
TO: XXXXXXXXXXXXXXXX <ENTITY NAME>
FR: XXXXXXXXXXXXXXXX <ENTITY NAME>

J.P. Morgan Access®  reporting enhancements

  • Relocation of Intercompany reports.
    • Navigate to Reports & Statements > Reports Inbox > Liquidity. 
    • Select the Filter button.

    Liquidity Reports Inbox – Current

    — Product: Intercompany Loans
    — Source: Click relevant report

    Before Migration: XYZ report
    After Migration (or if a BV has impacted position before migration): New XYZ report

    • 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.

    Report Name Used For Frequency Format Key Changes
    Interest Activity Report Tracking activity for each loan and daily accrual Daily PDF, Excel, CSV The report generated for the last day of the month is equivalent to what was formerly known as the ‘Month End Report’
    Loan Facility Report Tracking loan-level limit usages Daily, Monthly, End of Cycle PDF, Excel, CSV New report
    Contribution Summary Report Tracking the positions of every loan under a master account Monthly, End of Cycle CSV Replacing LIRS Group Statement and includes interest accruals, which was previously listed in the ‘Interest Summary Report’
    Contribution Detailed Report Tracking the whole lifecycle; a consolidation of all other reports Daily, Monthly, End of Cycle PDF, Excel, CSV New report
    Interest Accrual Report Providing the interest accrual summary at a mandate and header level Daily, Monthly, End of Cycle PDF, CSV, XLS New report
    Group Facility Report Displaying the details of the Group Facility Limit for all the existing and active loans in the system Daily, Monthly, End of Cycle PDF (ADA), XLS, CSV New report

    Here are samples of these reports.

    Intercompany Loan narrative changes

    Existing intercompany loan narratives will undergo the following changes:

    Channel

    Current Platform

    New Platform

    Interest - BAI credit

    16,399,1694660855,S,1694660855,0,0,LPQXXXXXXXXXXXX,/
    88,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX <CCY>
    88,<Branch ID> <YYYY> 5726 TO: <Account Name> FR: <Account Name>

    16,399,13647332,S,13647332,0,0,LPQXXXXXXXXXXXX,/
    88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY>
    88,<Branch ID> FR: XXXXXXXXXX<CCY><Branch ID> <YYYY> LPQXXXXXXXXXXXX

    Interest - BAI Debit

    16,699,3268830,0,LPQXXXXXXXXXXXX,/
    88,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX <CCY>
    88,<Branch ID> <YYYY>4526 TO: <Account Name> FR: <Account Name>

    16,699,6296,0,LPQXXXXXXXXXXXX,/
    88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=INTERCO I REF TO: XXXXXXXXXX
    88, <CCY> <Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX

    Withholding Tax - BAI credit

    16,399,19,S,19,0,0,LPQXXXXXXXXXXXX,/
    88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>
    88,<Branch> MASTERXXXXXXXXXX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXX
    88,XX FR: XXXXXXXXXX

    16,399,1036,V,240901,1940,LPQXXXXXXXXXXXX,/

    88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=WITHHOLDING TAX TO: XXXXXXXXXX

    88,<CCY> <Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX  

    Withholding Tax - BAI Debit

    16,699,673,0,LPQXXXXXXXXXXXX,/
    88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>
    88,<Branch> MASTERXXXXXXXXXX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXX
    88,X FR: XXXXXXXXXX

    16,699,1036,0,LPQXXXXXXXXXXXX,/
    88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=WITHHOLDING TAX TO: XXXXXXXXXX <CCY>
    88,<Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX

    Withholding Credit MT940

    :61:YYMMDD1001CR133,34NMSCNONREF//LPQXXXXXXXXXXXX
    Miscellaneous Credit -399
    :86:WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY><Branch> MASTERXXXXXXXX
    XX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXXX FR: XXXXXX
    XXXX

    :61:YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX
    Miscellaneous Credit -399
    :86:WITHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>
    FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

    Withholding Debit MT940

    :61:YYMMDD1001DR133,34NMSCNONREF//LPQXXXXXXXXXXXX
    Miscellaneous Debit -699
    :86:WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY><Branch>  MASTERXXXXXXXX
    XX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXXX FR: XXXXXX
    XXXX

    :61: YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX
    Miscellaneous Credit -699
    :86:WITHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>
    FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

    Interest Credit MT940

    :61:YYMMDD0902CP403,26NMSCNONREF// LPQXXXXXXXXXXXX

    Miscellaneous Credit -399

    :86:INTERCO I REF XXXX XXXXXXXX TO: XXXXXXXXXX <CCY> <Branch> FR: X

    XXXXXXXXX <CCY> <Branch> <YYYY>5764 TO: <Account Name>  FR:

    <Account Name>

    :61: YYMMDD0801CP123,NMSCNONREF//LPQXXXXXXXXXXXX
    Miscellaneous Credit -399
    :86: INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch>
    FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

    Interest Debit MT940

    :61:YYMMDD0902DP3636,36NMSCNONREF// LPQXXXXXXXXXXXX

    Miscellaneous Debit -699

    :86:INTERCO I REF XXXX XXXXXXXX TO: XXXXXXXXXX <CCY> <Branch> FR: X

    XXXXXXXXX <CCY> <Branch> <YYYY>5765 TO: <Account Name> FR

      <Account Name>

    :61: YYMMDD0801CP123,NMSCnonref//LPQXXXXXXXXXXXX
    Miscellaneous Credit -699
    :86: INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch>
    FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

    Intercompany Loan interest rates

    • Currently, daily ICL interest based on index rates (i.e., SOFR) is calculated based on the most recent available market rate (i.e., SOFR rate for interest calculation is Value Date-1)
    • The new platform will adjust the interest calculation to reflect the Value Date (VD) market rate

Intercompany reporting will experience the following enhancements:

Relocation of Intercompany reports

  • Navigate to Reports & Statements > Reports Inbox > Liquidity
  • Select the Filter button

Liquidity Reports Inbox – Current

    — Product: Intercompany Loans
    — Source: Click relevant report

    Before Migration: XYZ report
    After Migration (or if a BV has impacted position before migration): New XYZ report

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 (respective header accounts to each loan associated to the price point) to amend the price point values. 

Check out this user guide (pages 29-47) 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 Loan Reporting and Access reporting enhancements

Report Name Key Changes
All reports Generation of report frequency now daily instead of monthly
Loan Interest Activity Report The Summary Section will include net period-to-date balances
Contribution Summary Report The report will include information on interest accruals, which was previously included in a separate report (Interest Summary)
Loan Facility Report (previously called Counterparty Exposure report)
  • The report will contain data at per activity level rather than per day
  • This report can be generated per day instead of month-end only
  • This will also include a report on limit breaches
Contribution Detailed Report This is an additional report to track the whole loan lifecycle and will only available in .csv version
Access reporting Visibility of interest and withholding tax information will be changing in the Liquidity Structures – Intercompany Revolving Loans view on Access

If you receive Intercompany loan reports through email, the sender email and subject line will also change 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 the enhancements in action.

Intercompany narrative changes

Existing intercompany loan narratives will undergo the following changes:

Channel

Current Platform

New Platform

Interest – BAI credit

16,399,1694660855,S,1694660855,0,0,LPQXXXXXXXXXXXX,/
88,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX <CCY>
88,<Branch ID> <YYYY> 5726 TO: <Account Name> FR: <Account Name>

16,399,13647332,S,13647332,0,0,LPQXXXXXXXXXXXX,/
88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY>
88,<Branch ID> FR: XXXXXXXXXX<CCY><Branch ID> <YYYY> LPQXXXXXXXXXXXX

Interest – BAI Debit

16,699,3268830,0,LPQXXXXXXXXXXXX,/
88,REMARK=INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch ID> FR: XXXXXXXXXX <CCY>
88,<Branch ID> <YYYY>4526 TO: <Account Name> FR: <Account Name>

16,699,6296,0,LPQXXXXXXXXXXXX,/
88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=INTERCO I REF TO: XXXXXXXXXX
88, <CCY> <Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX

Withholding Tax – BAI credit

16,399,19,S,19,0,0,LPQXXXXXXXXXXXX,/
88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>
88,<Branch> MASTERXXXXXXXXXX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXX
88,XX FR: XXXXXXXXXX

16,399,1036,V,240901,1940,LPQXXXXXXXXXXXX,/

88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=WITHHOLDING TAX TO: XXXXXXXXXX

88,<CCY> <Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX  

Withholding Tax – BAI Debit

16,699,673,0,LPQXXXXXXXXXXXX,/
88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>
88,<Branch> MASTERXXXXXXXXXX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXX
88,X FR: XXXXXXXXXX

16,699,1036,0,LPQXXXXXXXXXXXX,/
88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=WITHHOLDING TAX TO: XXXXXXXXXX <CCY>
88,<Branch ID> FR: XXXXXXXXXX <CCY> <Branch ID> <YYYY> LPQXXXXXXXXXX

Withholding Credit MT940

:61:YYMMDD1001CR133,34NMSCNONREF//LPQXXXXXXXXXXXX
Miscellaneous Credit -399
:86:WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY><Branch> MASTERXXXXXXXX
XX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXXX FR: XXXXXX
XXXX

:61:YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX
Miscellaneous Credit -399
:86:WITHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>
FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

Withholding Debit MT940

:61:YYMMDD1001DR133,34NMSCNONREF//LPQXXXXXXXXXXXX
Miscellaneous Debit -699
:86:WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY><Branch>  MASTERXXXXXXXX
XX<CCY><Branch> INTERCO LPQXXXXXXXXXXXX TO: XXXXXXXXXX FR: XXXXXX
XXXX

:61: YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX
Miscellaneous Credit -699
:86:WITHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>
FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

Interest Credit MT940

:61:YYMMDD0902CP403,26NMSCNONREF// LPQXXXXXXXXXXXX

Miscellaneous Credit -399

:86:INTERCO I REF XXXX XXXXXXXX TO: XXXXXXXXXX <CCY> <Branch> FR: X

XXXXXXXXX <CCY> <Branch> <YYYY>5764 TO: <Account Name>  FR:

<Account Name>

:61: YYMMDD0801CP123,NMSCNONREF//LPQXXXXXXXXXXXX
Miscellaneous Credit -399
:86: INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch>
FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

Interest Debit MT940

:61:YYMMDD0902DP3636,36NMSCNONREF// LPQXXXXXXXXXXXX

Miscellaneous Debit -699

:86:INTERCO I REF XXXX XXXXXXXX TO: XXXXXXXXXX <CCY> <Branch> FR: X

XXXXXXXXX <CCY> <Branch> <YYYY>5765 TO: <Account Name> FR

  <Account Name>

:61: YYMMDD0801CP123,NMSCnonref//LPQXXXXXXXXXXXX
Miscellaneous Credit -699
:86: INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch>
FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

Intercompany Loan interest rates

  • Currently, daily ICL interest based on index rates (i.e., SOFR) is calculated based on the most recent available market rate (i.e., SOFR rate for interest calculation is Value Date-1)
  • The new platform will adjust the interest calculation to reflect the Value Date (VD) market rate