BofA Merrill Introduces New Transaction Services Capabilities in Brazil

Bank of America Merrill Lynch, a company focusing in global transaction services, announced the launch of new capabilities available to corporate clients doing business in Brazil.

According to a release, Brazil-Auto-Invest is a liquidity and investment product that automatically sweeps cash surpluses of Brazilian Real (BRL) into certificates of deposit (CDBs). Boletos Collections is a payments solution for the country's most widely- used billing method. The solutions help companies optimize their excess cash and working capital.

"We are very pleased to expand our local transaction services with Brazil-Auto-Invest and Boletos Collections," said Juan Pablo Cuevas, head of Global Transaction Services (GTS) for Latin America and the Caribbean. "The new capabilities demonstrate our commitment to serving clients in Brazil with top tier treasury products and services."

A client using Brazil-Auto-Invest has the ability to:

-Increase the earning potential of its BRL balances by using a fully automated process to earn returns on excess balances.

-Tailor investment terms by investing in CDBs with durations that suit the company's particular needs.

-Receive reporting that facilitates reconciliation and reporting.

"While clients may already have access to account sweeping tools, a key differentiator of Brazil-Auto-Invest is its ability to offer full automation," said Greg Kavanaugh, head of Global Liquidity, GTS. "The automated feature significantly improves the efficacy of the sweeping tool and further empowers a company's treasury department to direct their attention to other matters."

Boleto Collections offers clients many advantages including:

-The ability to customize a collections program and issue both registered and unregistered Boletos in BRL and U.S. dollars (USD).

-Enhanced convenience. Clients can retrieve Boletos by regular mail or email, and will soon be able to recalculate and reissue past- due Boletos online.

-The ability to implement flexible issuance procedures. Clients can issue Boletos through the bank's set of file access solutions, CashPro Connect; a host-to-host file solution; or the bank's online portal solution, CashPro Online.

-Clients can reconcile and manage their receivables through reports delivered electronically through CashPro Connect or CashPro Online.

"We're excited to launch a tailored solution to address the needs of our clients doing business in Brazil," said Annali Duarte, head of GTS for Brazil. "In providing Boletos Collections via our online banking channel, we are aiming to provide clients with the ultimate ease and flexibility to process their global payments and receivables, and further their goal for more efficient and accurate cash management."

Over the last four years, BofA Merrill has invested more than $1.2 billion in its GTS platform. Brazil-Auto-Invest is the latest in a series of new products and services the bank has launched in Brazil, and follows the recent introduction of Controlled Account services that regulates the exchange of cash (for BRL transactions) among multiple parties based on agreed upon contractual provisions.

BofA Merrill has more than 75 years of experience in Latin America, and its GTS platform provides a suite of transaction services, including liquidity management, payments and receipts, trade and supply chain finance, foreign exchange, commercial card, and custody and agency services corporations, bank and non-bank financial institutions and government agencies.

Bank of America is a financial institution, 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.

More Information:

http://www.bankofamerica.com

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