ICS and CDARS

Peace of Mind, Convenience, and Returns


With access to multi-million-dollar FDIC insurance, you no longer need to use repo sweeps or track collateral on an ongoing basis.

ICS and CDARS allow you to earn a return, while keeping your deposits safe. Depending on your needs, you can use ICS, CDARS, or both.

Feel good knowing the full amount of your funds placed through ICS and/or CDARS can support local lending opportunities that build stronger communities.1 

ICS & CDARS
Overview
Public Funds
Good for the Community
How They Work

[1] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the ICS or CDARS Network, a Network member can use the full amount of a deposit placed through ICS or CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent to certain types of ICS or CDARS transactions, the member institution may choose to receive fee income instead of deposits from other members. Under these circumstances, deposited funds would not be available for local lending.

Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network,  LLC.

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