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Repurchase Agreement Reporting Module Commercial sweep accounts are an effective means of retaining or attracting commercial customers, but sweeps require banks to assign collateral, generate reports and print notices for each individual account on a daily basis. The Repurchase Agreement Reporting Module reduces the labor needed to service sweep accounts and improves the efficiency of commercial banking operations by making these tasks part of banks' automated daily posting routines.
To download the information needed to assign collateral, generate reports and print notices, the Repurchase Agreement Reporting Module integrates seamlessly with the account processing applications of the Premier bank platform from Fiserv, and with the Bond Accounting System. Even banks not currently using Premier or the Bond Accounting System can use the Repurchase Agreement Reporting Module to streamline operations through importation of comma-delimited data (*csv files). By incorporating this module into their operations, banks reduce the time spent on routine regulatory tasks and create more time for customer service and other important functions.
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