Mirror Accounting Service
Interest Allocation Service
Interest Allocation Service (IAS) is a service exclusively for those customers using the Mirror Account Service (MAS). IAS provides you with a monthly report of the daily account balances and interest earned/owed among all accounts participating in MAS. IAS automatically tracks and calculates inter-entity lending activity, which allows you to treat each entity autonomously.
The Benefits of Interest Allocation Service
- Eliminates the complex administrative and accounting task of tracking inter-entity lending/borrowing activity, particularly during periods of fluctuating interest rates
- Allows for a flexible inter-entity rate that you can modify
- Facilitates statement preparation thanks to timing of period-end reports
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For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.
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