Is your bank in need of additional funding?
- ICS® and CDARS® enable your bank to access wholesale funding without collateralization or stock purchase requirements. Through ICS, your bank can contract for variable-rate funding in terms from 3 months to multiple years. Through CDARS, your bank can buy fixed- or floating-rate wholesale funding in amounts from under $1 million to multiple billions of dollars and in a range of maturities from 4 weeks up to 5 years.
- Through IND®, your bank can access even larger blocks of cost-effective, floating-rate funding at terms ranging from 1 to 5+ years and in amounts generally ranging from $25 million to multiple billions of dollars. The total all-in cost of funds can be locked in for up to 5 years, and it may be possible to extend or renegotiate IND pricing before the agreement expires.
|Through rolling, short-term, 4-week (or 13-week) CDs.
Typically, about 95% of IND deposits will be classified as savings deposits on a bank's Call Report—and, as such, will not be subject to reserve requirements.
Placement of customer funds through the ICS and/or CDARS services is subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the applicable Participating Institution Agreement and Deposit Placement Agreement. Limits apply, and customer eligibility criteria may apply. ICS program withdrawals are limited to six per month when using the ICS savings option. ICS and CDARS are registered service marks of Promontory Interfinancial Network, LLC.