Cash Management
Repurchase Agreement Sweep Account
The Repurchase Agreement Sweep Account provides an automated cash management vehicle for transferring your Business Checking collected balances to and from a Securitized Repurchase Agreement investment on a daily basis. The repurchase agreements are backed by U.S. Government Treasury, Agency, and/or Mortgage-Backed Securities, and the investment is 100% collateralized. A compensating target is determined to offset monthly maintenance charges.
The interest rate is based on the 3-Month Treasury Rate as of the last Tuesday of the month as quoted in the Wall Street Journal. Transaction confirmation is mailed daily, and the convenience of investing your excess liquidity is provided at no charge.
| Not FDIC INSURED | May lose value | No bank guarantee |