Generate income on excess cash while retaining short-term liquidity.
Insured Cash Sweep
Everything is handled through Pacific Western Bank. Your large deposit is broken into smaller amounts under $250,000 and placed with other ICS Network banks, which means your entire investment is eligible for FDIC insurance. By working with just one bank – Pacific Western Bank – you can receive insurance from many.
Your ICS balance is accessible on Online Banking and available for withdrawal or transfer per the Deposit Placement Agreement (“DPA”). In addition, you receive access to view the ICS Depositor Control Panel which outlines fund placement.
You receive a combined month-end statement listing the placement of your funds. With ICS, there’s no need to manually consolidate statements, track changing collateral values, or use private surety bonds. It’s that simple.
Money market sweeps
With our program, invest in money market mutual funds with your excess cash to earn significant dividend income and maintain optimal liquidity.
Federated Hermes Funds**
Government obligations fund
Seeks current income consistent with stability of principal by investing in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury and government securities.
Treasury obligations fund
Seeks current income consistent with stability of principal by investing in a portfolio of U.S. Treasury securities maturing in 397 days or less, and repurchase agreements collateralized fully by U.S. Treasury securities.
Ways we can help you:
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Reference or download one of our step-by-step user guides to help you better understand our products and solutions.
For more information, contact your relationship manager or fill out the form below.