Sweep Account Through Wholesale Repurchase Agreement
Customers with high checking account balances on a daily basis may wish to “sweep” some of these funds into an interest-bearing account. Maximize earnings by moving excess funds to savings. Save staff tme with automatic transfers. This type of savings account has no time restrictions.
Funds in the wholesale repurchase agreement are secured by a pledge of U.S. Treasury and U.S. government agency securities and are not FDIC insured.
NOTE — Investments:
- Are Non-deposit investments
- Are NOT FDIC Insured
- Have No Bank Guarantee
- May Lose Value including possible loss of principal