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  • Execute Zero Balance Sweep Between Transaction Accounts

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    Ram Mohan Mishra
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    This document describes the process for executing a zero balance sweep between transaction accounts. It involves the following key steps: 1. Checking the account balance and calculating the sweep amount needed either out of the account to maintain a zero balance or into the account. 2. Performing the sweep transfer for the calculated sweep amount between the accounts. 3. Generating accounting entries and updating sweep details for the transaction. 4. Optionally checking if a cover control limit is set and comparing the sweep amount to the limit, rejecting the sweep if the limit is exceeded.

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    This document describes the process for executing a zero balance sweep between transaction accounts. It involves the following key steps: 1. Checking the account balance and calculating the sweep amount needed either out of the account to maintain a zero balance or into the account. 2. Performing the sweep transfer for the calculated sweep amount between the accounts. 3. Generating accounting entries and updating sweep details for the transaction. 4. Optionally checking if a cover control limit is set and comparing the sweep amount to the limit, rejecting the sweep if the limit is exceeded.

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    © All Rights Reserved
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    4 views1 page

    Execute Zero Balance Sweep Between Transaction Accounts

    Uploaded by

    Ram Mohan Mishra
    This document describes the process for executing a zero balance sweep between transaction accounts. It involves the following key steps: 1. Checking the account balance and calculating the sweep amount needed either out of the account to maintain a zero balance or into the account. 2. Performing the sweep transfer for the calculated sweep amount between the accounts. 3. Generating accounting entries and updating sweep details for the transaction. 4. Optionally checking if a cover control limit is set and comparing the sweep amount to the limit, rejecting the sweep if the limit is exceeded.

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    27/04/21 Execute Zero Balance Sweep Between Transaction Accounts

    TEMENOS Banking Reference Processes


    Execute Zero Balance Sweep Between Transaction Accounts Last change: 17-Mar-2021 12:05:15
    Type: EPC

    Execute Intra-Day
    Sweep Between
    Transaction
    Accounts

    Zero balance
    sweep type to be
    executed

    Check Account
    PO balance

    SYS

    Account balance Account balance Account balance


    greater than zero less than zero is zero

    Sweep amount is the Sweep amount is the


    Calculate Sweep surplus amount that Calculate Sweep shortfall amount that Reject Zero Balance
    PO amount PO amount PO sweep
    needs to be swept out needs to be swept in
    to maintain zero balance to maintain zero balance
    SYS SYS SYS

    Compare Sweep Zero Balance


    Perform sweep for
    PO PO amount with Link sweep not
    the sweep amount
    account balance performed
    SYS SYS

    Generate accounting Transfer entries passed by system


    PO entries Dr Sweep Account
    Cr Link Account Link Account
    Link Account
    SYS balance more
    balance less than
    than sweep
    sweep amount
    amount

    PO Update sweep details AC.ACCOUNT.SWEEP.HIST


    with sweep details
    Check if Cover Cover Control options are
    SYS
    PO control limit is set for defaulted to values specified
    Link account in the Product level definition
    for TR, CS and SA Accounts
    SYS

    Zero Balance
    sweep performed

    Cover control set Cover control set


    to No to Yes

    Calculate difference
    between Sweep
    PO amount and Link
    account balance
    SYS

    Compare difference
    PO amount and Cover
    control limit
    SYS

    Difference
    Difference
    amount more
    amount less than
    than Cover
    Cover control limit
    control limit

    Reject Zero Balance


    PO sweep
    Perform sweep for
    PO the sweep amount
    SYS
    SYS

    Zero Balance
    sweep not
    Generate accounting Transfer entries passed by system
    PO entries Dr Link Account performed
    Cr Sweep Account
    SYS

    PO Update sweep details AC.ACCOUNT.SWEEP.HIST


    with sweep details
    SYS

    Zero Balance
    sweep performed

    Temenos R21 Proprietary & Confidential 1

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