ECR

(redirected from Earnings Credit Rate)
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ECR

(engineering)
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17 October 2014 -- New York-based financial services firm Citi's (NYSE: C) Treasury and Trade Solutions division said that it has expanded its global Earnings Credit Rate product offering to Western Europe.
Earnings credit rate (ECR) products give corporates implied interest on deposits that they can use to offset cash management fees.
EXHIBIT Earnings Credit Rate Example Average Overnight Earnings Bank Collected Borrowing investment Credit Fees Balance Rate Rate Rate (Annual) $100,000 6.
Citi also plans to offer its earnings credit rate product outside the United States, starting in coming months with Western European branches, in the expectation that clients will have an incentive to grow their operating business with Citi by using the value of their deposits to offset fees.
The Board also approved, effective January 8, 2004, changing the earnings credit rate on clearing balances from the federal funds rate to 90 percent of the three-month Treasury bill rate, and increasing the frequency with which depository institutions can change contracted clearing balances.
For every dollar of collected balances you maintain, the bank provides an earnings credit allowance (ECA) based upon its earnings credit rate (ECR) which is typically tied to a market rate, such as the 90-day T-Bill.
Informa Research Services' researchers are experts in all financial products and services including Earnings Credit Rate (ECR) and Analyzed Checking Fees.
Please provide in your response: *A fee schedule associated with general account activities 6 *A sample of the monthly account analysis statement and associated issuance timetables *A description of daily activity cutoff times *The earnings credit rate and effective interest rate for the past twelve months *Screenshots of the online account interfaces *A description of daily and monthly reconciliation services *Security practices in place to protect accounts from unauthorized activity *A description of how the financial institution will collateralize active and interim deposits of the City in accordance with Ohio Revised Code Section 135.
Some of those better returns came from leveraging the banks' enhanced earnings credit rate (ECR), especially for dollar deposits, because Google had identified European banks with large dollar funding needs.
Accordingly, business clients of the bank are now able to choose between an interest-bearing checking account or an account that offers a market-leading earnings credit rate (ECR), depending on which best serves their needs.
He says many banks are considering a hybrid product that, for example, offers an Earnings Credit Rate on balances until service fees are paid, then offers explicit interest on "excess" balances.

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