Reduce idle balances and maximize interest income in the FDIC insured sweep to the Demand Deposit Marketplace (DDM) Overnight Sweep offered through Reich & Tang.
- High levels of FDIC insurance: Up to $50 million per Tax ID in aggregate
- Liquidity: Daily liquidity with no deposit/withdrawal restrictions or penalties
- Safety: Deposits, up to the program maximum are fully insured by the FDIC thereby eliminating the risk associated with money fund investing (market, credit, economic, etc.)
- Convenience: The sweep eliminates the need to maintain multiple banking relationships to achieve high levels of FDIC insurance
- Competitive: Rates are competitive with money market funds while eliminating credit risk and provide the value of FDIC insurance
Automatically process advances and pay downs on the line of credit.
Eliminate the need to manually transfer funds between accounts by automatically transferring available balances from sub-accounts into a master account allowing you to consolidate funds.