BANK OF AMERICA

Newsroom

 

Facts & Resources

Bank of America Merrill Lynch Enhances Notional Pooling Capability

Corporate Clients Benefit From Consistent Product Offering on Global Liquidity Platform

Wednesday, July 25, 2012 10:00 am EDT

Dateline:

NEW YORK

Public Company Information:

NYSE:
BAC
"These notional pooling capabilities are an important addition to our Global Liquidity Platform"

Bank of America Merrill Lynch today announced it has added Notional Pooling to its Global Liquidity Platform, a centralized technology hub for liquidity management. Companies can utilize single and multicurrency notional pooling solutions to reduce capital cost, increase control of working capital and simplify treasury activity.

Notional pooling refers to the non-physical netting of multiple bank account balances against each other to provide clients interest efficiencies and balance consolidation benefits. With the relaunch of Single Currency Notional Pooling and Multicurrency Notional Pooling, BofA Merrill now offers a complete integrated suite of cash concentration solutions through its Global Liquidity Platform, including Interest Optimization, Physical Cash Concentration and Multi Bank Cash Concentration.

“Our clients are increasingly operating in an environment of multiple currencies, jurisdictions and legal entities,” said Greg Kavanaugh, head of BofA Merrill’s Global Liquidity product team. “By offering both notional and physical cash concentration options, we can help our clients improve the value they receive from their liquidity balances around the globe.”

Clients use single currency notional pooling as a tool for interest enhancement when all accounts are in the same currency. Multicurrency notional pooling provides clients operating with different currencies a way to calculate a net notional position in a single currency of their choice without the need to perform actual foreign exchange or swap transactions. With both pooling alternatives, clients benefit from a more efficient cash concentration process.

“These notional pooling capabilities are an important addition to our Global Liquidity Platform,” Kavanaugh added. “Our clients can now experience a globally consistent product offering that can help them operate more knowledgably and efficiently in the day-to-day management of their funds.”

About the Global Liquidity Platform

The Global Liquidity Platform is a centralized technology hub that enables BofA Merrill to provide consistent, seamless and integrated liquidity solutions to clients around the world. It encompasses operational, liquidity and product-specific components or modules that offer clients robust liquidity concentration products, global account connectivity and enhanced reporting capabilities. BofA Merrill embarked on this multi-million dollar platform in 2009 as part of the bank's commitment to innovative technology for its treasury management and corporate banking clients.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 56 million consumer and small business relationships with approximately 5,600 retail banking offices and approximately 16,200 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

Copyright 2012 Bank of America Corporation.

For more Bank of America news, visit the Bank of America newsroom.

www.bankofamerica.com

Contact:

Reporters May Contact:
Will Wilson, Bank of America Merrill Lynch, 1.980.388.3360
will.wilson@bankofamerica.com