At that point, the syndicate manager is usually appointed the agent bank
, which coordinates the loan between the borrower which is normally a corporation and participating banks ,
BCS Arc is a market-leading agent bank
network management software product that can reduce agent fees, improve regulatory compliance and provide greater process control.
As our role in the global syndicated loan market grows, we are dedicated to ensuring that we, as an agent bank
, and our lenders agree on loan positions and the accruals that take place during the life of the loan", said Michele Ushkowitz, Head of Financing Operations for Societe Generale Corporate & Investment Banking in the Americas.
Through Key's agent bank
program, financial services companies provide their customers and members surcharge-free or surcharge-reduced access to Key's automated teller machine (ATM) network without the significant financial and labor investment required to build, operate and maintain their own individual systems.
Other recent financial institutions joining Key's agent bank
Along with the agent banks
, more than 2,800 investment funds and lending entities administered by more than 250 leading funds managers and bank lenders have linked to the reconciliation service since Loan/SERV was launched in 2008.
The new agent bank
clients and their headquarter locations throughout Ohio are:
NEW YORK & LONDON -- The Depository Trust & Clearing Corporation (DTCC) today announced that its Loan/SERV Reconciliation Services now links eight leading global agent banks
to more than 2,300 investment funds and bank lenders - representing more than half the global syndicated loan market - located in 37 countries across North America, Europe, Asia and Africa.
Partnering with Key's agent bank
services will provide a network of surcharge-free ATMs currently not available to our credit union members.
Cash on Transfer will give the global syndicated loan market a platform for the simultaneous movement of cash with the change in legal ownership of the asset recorded by the agent bank
The new agent bank
clients and their locations throughout the state of New York are:
MCPS purchased the Agent Bank
portfolio and several thousand merchants in October 2009.
8 /PRNewswire/ -- KeyCorp has signed its first agent bank
ATM reselling agreement with Member Access Pacific (MAP), a provider of financial card services and ATM processing solutions based in Federal Way, Wash.
THE WOODLANDS, Texas -- Merchants' Choice Payment Solutions (MCPS), announced the acquisition of the portfolio of agent bank
relationships from Silverton Bank in Atlanta, Georgia.
KeyCorp is significantly expanding its agent bank
automated teller machine (ATM) network by welcoming Birmingham, Ala.