CDARS One-Way Buy for Banks
WHAT IS CDARS ONE-WAY BUY?
CDARS® One-Way Buy® is an easy way for banks to purchase cost-effective, fixed-rate, wholesale funding over short or long terms and without collateralization requirements.
WHY DO BANKS CHOOSE CDARS ONE-WAY BUY?
Banks that offer CDARS are members of the Promontory Network. With CDARS One-Way Buy, banks can
- Tap into a cost-effective, alternative funding source for terms of 4 weeks to 5 years
- Obtain large blocks of funding, diversify wholesale funding options, and avoid over-reliance on any single source of funding
- Enjoy the ease—no credit lines are needed, and no collateralization is required
- Bid an “all-in” rate and pay no transaction fees
HOW DOES CDARS ONE-WAY BUY WORK?
Funds come from Promontory Network member institutions who want to sell their excess CDARS deposits.
Access to funding is quick and easy.
- Sign document(s). New members sign the CDARS-ICS Participating Institution Agreement with a simple, two-page addendum. Existing members simply sign the addendum. Submit a Request for Funds form.
- Bid online on or before 1:00 PM ET on CDARS Match Day (currently Wednesday).
- Learn the auction results that evening, and settle the next business day.
With CDARS One-Way Buy and additional Promontory Network funding solutions, including CDARS® Floating-Rate FundingSM, banks can rest assured knowing that customizable and convenient wholesale funding is easily accessible as their funding needs change.
LEARN MORE AND GET THE LATEST CDARS ONE-WAY BUY RATES
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Use of the CDARS service is subject to the terms, conditions, and disclosures set forth in the CDARS-ICS Participating Institution Agreement and the applicable Deposit Placement Agreement. Limits apply. CDARS and One-Way Buy are registered service marks of Promontory Interfinancial Network, LLC.