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Wholesale Funding | Deposit Liquidity Account
Wholesale Funding
Your bank can sign up for our Funding Program, tell us your target level of funding and we will start to move deposits to your bank. You choose the amount but best of all; we will keep it at your bank as long as you want. We provide long term funding at short term costs.
For over 5 years now, IDC Deposits has provided community banks with this innovative and efficient way to gain access to a consistent, reasonably priced source of money market funds through our Deposit Network®. We specialize in offering a money market deposit program as both an investment and funding vehicle for financial institutions that want to use our Deposit Network®.
Banks can now purchase large deposits, giving them the security they are looking for while having the access and convenience of a traditional money market account.
Some of the benefits include:
- Lower your cost of funds
- Easy and reliable
- No collateralization
- Long term funding with adjustable rates
- Contingency liquidity
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For more information, please contact Tom Nelson at 203-956-7115 or tom.nelson@idcdeposits.com
Deposit Liquidity Account
Banks that are in a Fed Funds Sold position now have an additional investment choice with the Target Account!
Institutional Deposits Corp. (“IDC Deposits”) created this unique Money Market program in order for banks to achieve the FDIC insurance safeguard for larger investments. Wells Fargo Bank, N.A., is the custodian for the program.
When you invest a large deposit into our network, the funds are distributed to banks in our Deposit Network® , in increments of less than the FDIC insurance maximum to ensure that both principal and interest are eligible for full FDIC insurance.
IDC’s Network of well-capitalized FDIC insured banks allows us to offer this alternative to the Fed Funds Sold option. By investing excess funds with IDC Deposit’s Network, the bank is able to achieve the safety of an FDIC-insured money market deposit.
Some of the benefits include:
- Higher Rate
- FDIC Insured
- Liquid Money Market Account – Up to 6
- Withdrawals Per Month
- Simple Documentation
- Liquidity that can be adjusted as needed
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For more information, please contact Tom Nelson at 203-956-7115 or tom.nelson@idcdeposits.com
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Institutional Deposit Corp. and ICAP Enter Into a Marketing Agreement for i-Feds Customers
Norwalk -- Institutional Deposit Corp. (IDC) and ICAP Capital Markets LLC, a unit of ICAP, the world’s premier interdealer broker, have entered into a marketing agreement which will provide banks trading on bankoxygen.com (formerly i-feds.com) with direct access to IDC's Insured Deposit Liquidity Account -- a fully FDIC-insured deposit program for investments up to $12 Million.
Through a link on bankoxygen.com, customers will be able to connect to IDC's innovative money market program which provides a Fed Funds alternative investment product. The Insured Deposit Liquidity Account offers expanded FDIC insurance coverage for investors through money market deposits with a large number of well-capitalized, FDIC-insured banks. The account accomplishes this through the convenience of a single account with a single statement with one daily yield, currently at 1.00%
Similar to how money market mutual funds allow investors to access a large number of issuers through a single fund, this Deposit Account allows investors to access a wide array of banks, all with the safety of investing in FDIC-insured deposits. Unlike Money funds, all the deposits in the account carry FDIC insurance. The Insured Deposit Liquidity Account has a network of banks large enough to provide each investor with $12 million of FDIC-insured deposits at any time and that number continues to increase as the Network is continuing to expand.
IDC also helps banks raise deposits with the convenience of a single account as well. IDC provides banks with a flexible program to raise deposits in an amount that is tailored to their needs and flexible over time. The group helps banks raise long term deposits at short term costs with flexibility to change deposit levels as a bank’s needs change.
IDC is already working with 400 banks nationwide.
About Institutional Deposits Corp.
Institutional Deposits Corp. (IDC Deposits) provides investing, funding, and fee income solutions to Banks through its innovative money market deposit program. The Insured Money Market Account allows banks to invest for their own account as well as offer expanded FDIC insurance on money market deposits to their customers. In addition, any banks that are interested in funding can purchase deposits at a low rate. For more information on our solutions, please visit our website at www.idcdeposits.com or contact Tom Nelson at 203-956-7115 or tom.nelson@idcdeposits.com.
About ICAP
ICAP is the world’s premier voice and electronic interdealer broker and the source of global market information and commentary for professionals in the international financial markets. The Group is active in the wholesale markets in interest rates, credit, commodities, foreign exchange and equity derivatives. ICAP has an average daily transaction volume in excess of $2.3 trillion, more than 40% of which is electronic. ICAP plc was added to the FTSE 100 Index on 30 June 2006.
For more information go to www.icap.com.
For more information about ICAP, please contact Guy Taylor at 212-341-9759 or guy.taylor@us.icap.com. |
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