Configuring Sub-Accounts

The sub-accounts are account arrangements created in the product defined in the Allowed Product field of Sub-Arrangement Rules of the MCY product. The linkage between sub-arrangements and a parent arrangement within a multi-currency (MCY) account is supported using the Master Arrangement field of AAA. In addition, information related to the connection between the two arrangements is updated in the Activity Link type field .

Refer to Configuration of AR Accounts for more details on the configuration of Sub-Accounts.

Refer to Configuration of AR Accounts for more details on the configuration of Sub-Accounts.

Further, the arrangement account product for the sub-account should have the Product Only field set as ‘Mcy’ in the AA.PRODUCT.DESIGNER. This setup specifies that this product is for MCY sub-accounts only and it allows the bank to differentiate between the features of regular current, savings and MCY sub-accounts.

Automatic Creation of Base Currency Sub-Account

When the MCY arrangement is created, the system can be configured to create the base currency sub-account automatically. The automatic account creation can be configured by setting up the Base Ccy Product field in Sub-arrangement Rules condition of the MCY arrangement. The product should be a MCY only Product in AR product line. When the user gives this (Base Ccy Product) product in the Sub-arrangement of the MCY product configuration (or at MCY arrangement level), the base currency sub-account creates automatically in this product as part of MCY account creation.