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Cash Management Services

 
 
 
 

Cash Management Services

Corporate Repurchase Sweep Account

ABC Bank’s Corporate Repurchase Sweep Account enables you to earn a competitive interest rate on idle checking balances – a smart, convenient short-term investment option for businesses. This arrangement links a Business Checking (Operating) account with a repurchase agreement sweep (Investment) account. Excess balances in the Operating account are “swept” into the Investment account daily. These investments are not FDIC insured but risk is limited as balances are collateralized by U.S. Government Agency securities.

Term Repurchase Agreement

We also offer Term Repurchase Agreements at competitive interest rates. These investments are not FDIC insured but risk is limited as balances are collateralized by U.S. Government Agency securities. Terms can be customized from 7 to 365 days or longer.

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1Initial deposit of $10,000, which is currently not on deposit at ABC Bank, is required to open the account and earn the stated Annual Percentage Yield. Maximum deposit amount of $249,999.99 per household or business. 2APY is current as of November 24, 2014. Funds must remain on deposit for the full 24-month term to earn the stated APY. Interest is compounded and paid quarterly. Offer available to new accounts only. Fees may reduce earnings. Penalty may be imposed for early withdrawal. The CD will automatically renew at maturity at current rate. Offer may be withdrawn at any time.