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BAI (or the BAI file format) is a colloquial term used to describe a file format for using EDI to perform cash management balance reporting. The BAI format was developed and is maintained by the Banking Administration Institute (BAI). One common application of the BAI format is for use by banks to transmit returned item data to customers (for example, checks which have been marked insufficient funds (NSF)). The current release is Cash Management Balance Reporting Specifications Version 2, typically referred to as BAI2. Electronic Data Interchange (EDI) is a set of standards for structuring information to be electronically exchanged between and within businesses, organizations, government entities and other groups. ...
BAI (Banking Administration Institute) is the leading professional organization for the financial services industry, especially in the United States. ...
History
In 1971, BAI created a precursor to the BAI format called the Lockbox Communications Standards for Banks, which supported reporting only for lockbox services. This standard was never updated and was eventually superseded by the BAI format. 1971 (MCMLXXI) was a common year starting on Friday (the link is to a full 1971 calendar). ...
In 1980, BAI, working with various U.S. banks, released BAI1, the Cash Management Balance Reporting Specification, Version 1, the first release of cash management balance reporting specifications. Some banks still use BAI1, but BAI discontinued formal support after 1990. 1980 (MCMLXXX) was a leap year starting on Tuesday. ...
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1990 (MCMXC) was a common year starting on Monday of the Gregorian calendar. ...
In 1987, the original specifications were replaced by BAI2. 1987 (MCMLXXXVII) was a common year starting on Thursday of the Gregorian calendar. ...
In 2001, the BAI2 specifications were updated to include new codes for lending transactions. 2001 (MMI) was a common year starting on Monday of the Gregorian calendar. ...
Since the user base of the BAI format has reached critical mass and is considered self-supporting, BAI no longer actively supports (or charges for) the BAI format specifications, which are now freely available as a 104-page PDF document. [1] PDF is an abbreviation with several meanings: Portable Document Format Post-doctoral fellowship Probability density function There also is an electronic design automation company named PDF Solutions. ...
SWIFT (the international financial industry messaging cooperative) maintains the official list of worldwide currency codes as used with BAI2. (Appendix B of the BAI2 specifications mirrors the list as of June 2005.)
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