Pool setup and accounts
How to create an interest pool
Create an interest pool with its branches, management account and initial rate profiles.
Written by Katrin Erb Updated Published An interest pool groups eligible accounts for one bank and currency and applies a shared interest and payout arrangement. You can create more than one pool for the same bank and currency.
Before you start
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Interest Pooling must be enabled for the office.
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You need permission to create or edit interest pools.
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The bank and currency must be active for the office.
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Import statement data first so the required bank accounts and branches are available.
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Have the management account details, rate tiers, tiering methods and day-count convention ready.
Create the pool
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Go to Interest Pooling > Interest Pools and select New interest pool.
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Under Name, enter a clear name for the arrangement.
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Under Bank & Currency, select the bank, the branches covered by the arrangement and the currency.
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Under Management Account, choose the identifier format and enter the required account details. Flinq creates this as the pool's management account.
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Under Interest Profile, choose the tiering method and day-count convention, then add the effective-rate tiers.
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If Standing Rates is enabled for the office and the arrangement needs a client-return floor, enable the standing rate profile and enter its method, convention and tiers.
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Under Payout Profile, choose the tiering method and enter the CMC tiers.
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Review the information and create the pool.
What happens next
The pool is created with its first interest and payout profile periods. Accounts are not added automatically. Add eligible accounts separately and choose the date from which each assignment applies.
If a bank, currency or branch is missing
Check Settings > Office Settings to confirm that the bank, currency and importer are active. If the branch has not yet been created, import a statement containing an account from that branch before creating the pool.
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