Compensating Balances Notice
The Program Notice for Compensating Balances DNAapp is a non-updating batch application. The Program Notice batch application is designed to produce a notice whenever a rate change occurs to a loan account that is in the Compensating Balances program.
This Program Notice batch application works in conjunction with the Compensating Balances for Business Loans DNAapp.
The Program Notice batch application will also generate a summary report for the Financial Institution listing all loan accounts where a notice was generated.
The Program Notice batch application provides the Financial Institution with several benefits, including:
- Ability to generate a notice to send to Borrowers notifying them that their loan interest rate has changed within the Compensating Balances program.
- Ability to exclude the Program Notice application for a specific loan product or account.
- The installation of DNA® 4.3 or higher is required
- The Compensating Balances for Business Loans DNAapp
- For notices to be produced, a text file named 'PROG_NOTICE.txt' must be created and placed in the text directory defined by the 'TEXT' institution option
- The completion of all the Financial Institution's nightly update processing is required prior to the Program Notice batch application being run
- A default notice is required in the text file. If using the \When command to designate a notice for specific products, there must also be a default notice in the PROG_NOTICE.txt file