Cash Concentration Service Enhancements: Mainland China

Updates will be made to existing cross-border single currency sweeps narratives without Intercompany Loan Reporting.

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.

Account numbers will be standardized as follows:

  • 15 digits for U.S. account numbers
  • 10 digits for international account numbers (except accounts in the Brussels branch)
  • 12 digits for accounts held in the Brussels branch

Channel

Current Platform

New Platform

SWIFT MT940 Credit (Version 1)

:61:YYMMDD0314DY251903021,79NCMZNONREF//LPQXXXXXXXXXXXXX

Sweeping Credit - Zero Bal -275

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR:  XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

:61:YYYYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweeping Credit - Zero Bal -275

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR:  XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

SWIFT MT940 Credit (Version 2)

:61:YYMMDD0310DY115302970,61NCMZNONREF//LPQXXXXXXXXXXXXX

Sweeping Credit - Zero Bal -275

:86:INTERCO P REF  TO: XXXXXXXXXX <CCY> <Branch Name> FR:  XXXXXXXXXX <CCY> <Branch Name> ENTRUST LOAN XXXX TO: <Account Name>

FR: <Account Name>

:61:YYYYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweeping Credit - Zero Bal -275

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR:  XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

SWIFT MT940 Debit (Version 1)

:61:YYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweep Debit - Zero Bal -575

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

:61:YYYYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweep Debit - Zero Bal -575

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY>

<Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

SWIFT MT940 Debit (Version 2)

:61:YYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweeping Debit - Zero Bal -575

:86:INTERCO P REF  TO: XXXXXXXXXX <CCY> <Branch Name> FR:  XXXXXXXXXX <CCY> <Branch Name> ENTRUST LOAN XXXX TO: <Account Name>

FR: <Account Name>

:61:YYYYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Sweep Debit - Zero Bal -575

:86:SWEEP REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY>

<Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

FR: <Account Name>

BAI Credit (Version 1)

16,275,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX,XXXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX  <CCY> <Branch Name>  

88,FR:XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXXX TO: <Account Name>

88,FR: <Account Name>

16,275,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX,XXXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXX TO: <Account Name> FR:

88,<Account Name>

BAI Credit  (Version 2)

16,275,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX,XXXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=INTERCO P REF TO: XXXXXXXXXX  <CCY> <Branch Name>

88,FR: XXXXXXXXXX  <CCY> <Branch Name>  ENTRUST LOAN XXXX TO: <Account Name>

88,FR: <Account Name>

16,275,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX,XXXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXX TO: <Account Name> FR:

88,<Account Name>

BAI Debit (Version 1)

16,575,<Amount>,0,LPQXXXXXXXXXXXXX,10009341/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX  <CCY> <Branch Name>  

88,FR:XXXXXXXXXX <CCY> <Branch Name> INTERCOMPANY LPQXXXXXXXXXXXXX TO: <Account Name>

88,FR: <Account Name>

16,575,<Amount>,0,LPQXXXXXXXXXXXX,XXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXX TO: <Account Name> FR:

88,<Account Name>

BAI Debit (Version 2)

16,575,<Amount>,0,LPQXXXXXXXXXXXXX,XXXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=INTERCO P REF TO: XXXXXXXXXX  <CCY> <Branch Name> 

88,FR:  XXXXXXXXXX  <CCY> <Branch Name>  ENTRUST LOAN XXXX TO: <Account Name>

88,FR: <Account Name>

16,575,<Amount>,0,LPQXXXXXXXXXXXX,XXXXXXXXX/

88,YOUR REF=ZERO BALANCING,REMARK=SWEEP REF XXX TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY> LPQXXXXXXXXXXXX TO: <Account Name> FR:

88,<Account Name>

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.

To be updated.

To be updated.

To be updated.

Please expect 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 Reporting and Access reporting enhancements

Report Name

Key Changes

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

Intercompany narrative changes

Existing intercompany loan narratives will undergo the following changes:

Channel

Current Platform

New Platform

BAI Principle Credit

16,399,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> INTERCOMPANYXXXX TO: <Account Name>

88,FR: <Account Name>

16,399,13647332,S,13647332,0,0,LPQXXXXXXXXXXXX,/

88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=INTERCO P REF TO: XXXXXXXXXX <CCY>

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

BAI Principle Debit

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch Name>

88,FR: XXXXXXXXXX <CCY> <Branch Name> INTERCOMPANYXXXX TO: <Account Name>

88,FR: <Account Name>

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=INTERCO P REF TO: XXXXXXXXXX <CCY>

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

BAI Interest Credit

16,399,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=INTERCO I REF TO: XXXXXXXXXX  <CCY>

88,<Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> INTERCOMPANYXXXX TO: <Account Name>

88,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

BAI Interest Debit

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=INTERCO I REF TO: XXXXXXXXXX  <CCY>

88,<Branch Name> FR: XXXXXXXXXX  <CCY> <Branch Name> INTERCOMPANYXXXX TO: <Account Name>

88,FR: <Account Name>

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS

DEBIT,REMARK=INTERCO I REF TO:

XXXXXXXXXX <CCY>

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

LPQXXXXXXXXXXXX

BAI Withholding Tax Credit

16,399,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS CREDIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>

88,<Branch Name> MASTERXXXXXXXXXX<CCY><Branch Name> INTERCO LPQXXXXXXXXXXXXX TO:

88,XXXXXXXXXX FR: XXXXXXXXXX

16,399,<Amount>,S,<Amount>,0,0,LPQXXXXXXXXXXXXX/

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

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

BAI Withholding Tax Debit

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

88,YOUR REF=MISCELLANEOUS DEBIT,REMARK=WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY>

88,<Branch Name> MASTERXXXXXXXXXX<CCY><Branch Name> INTERCO LPQXXXXXXXXXXXXX TO:

88,XXXXXXXXXX FR: XXXXXXXXXX

16,699,<Amount>,0,LPQXXXXXXXXXXXXX/

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

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

MT940 Principle Credit

:61:YYMMDD0303CY70968,71NMSCNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Credit -399

:86:INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY>XXXX TO: <Account Name> FR: <Account Name>

:61:YYYYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Credit -399

:86: INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch>

FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

MT940 Principle Debit

:61:YYMMDD0303CY70968,71NMSCNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Debit-699

:86:INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY>XXXX TO: <Account Name> FR: <Account Name>

:61:2503030303DY55693,27NMSCNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Debit -699

:86: INTERCO P REF TO: XXXXXXXXXX <CCY> <Branch>

FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

MT940 Interest Credit

:61:YYMMDD0310CY200000000,00NCMZNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Credit -399

:86:INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY>XXXX 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

MT940 Interest Debit

:61:YYMMDD0303DY55693,27NMSCNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Debit -699

:86:INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch Name> FR: XXXXXXXXXX <CCY> <Branch Name> <YYYY>XXXX TO: <Account Name> FR: <Account Name>

:61: YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX

Miscellaneous Debit -699

:86: INTERCO I REF TO: XXXXXXXXXX <CCY> <Branch>

FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

MT940 Withholding Tax Credit

:61:YYMMDD0303CY16472,47NMSCNONREF//LPQ640506206226

Miscellaneous Credit -399

:86:WITHHOLDING TAX PARTICIPANTXXXXXXXXXX<CCY><Branch Name> MASTERXXXXXXXXXX

<CCY> <Branch Name> INTERCO LPQXXXXXXXXXXXXX TO: XXXXXXXXXX FR:

XXXXXXXXXX

:61: YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX

Miscellaneous Credit -399

:86:WITHHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>

FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

MT940 Withholding Tax Debit

:61:YYMMDD0303DY16472,47NMSCNONREF//LPQXXXXXXXXXXXXX

Miscellaneous Debit -699

:86:WITHHOLDING TAX PPARTICIPANTXXXXXXXXXX<CCY><Branch Name> MASTERXXXXXXXXXX

<CCY> <Branch Name> INTERCO LPQXXXXXXXXXXXXX TO: XXXXXXXXXX FR:

XXXXXXXXXX

:61: YYMMDD0801CP123,NMSCLATAM//LPQXXXXXXXXXXXX

Miscellaneous Debit -699

:86:WITHHOLDING TAX REF TO: XXXXXXXXXX <CCY> <Branch>

FR: XXXXXXXXXX <CCY> <Branch> <YYYY> LPQXXXXXXXXXXXX

Intercompany Loan interest rates

  • Pre-migration, daily index rates (i.e., SOFR) are calculated based on the most recent available market rate (i.e., SOFR rate for interest calculation is Value Date-1)
  • Post-migration, the interest calculation will be adjusted to reflect the Value Date (VD) market rate. Ad-hoc (On-demand) reports will need to be generated to see the Value Date (VD) market rate and calculation
  • During the intra-month migration, you may see reporting showing Value Date-1 (pre-migration) and VD (post-migration).

Please contact your J.P. Morgan representative with any questions.