ICS, or the Insured Cash Sweep Service
Promontory Interfinancial Network

| Market Profile | Program Benefits |  Program Contacts |

Other Endorsed Solutions from Promontory Interfinancial Network:

| CDARS | IND |

Promontory Interfinancial Network, LLC ("Promontory") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. By using Promontory's ICS, CDARS^®, and IND^® services, financial institutions can directly manage their liquidity positions and, ultimately, their bottom lines.
 
DESCRIPTION

With ICS, or the Insured Cash Sweep service, Promontory Network members can offer their customers a savings product that earns interest and provides access to multi-million-dollar FDIC insurance so that large-dollar, safety-conscious customers don't have to choose one over the other.

Banks that offer ICS are members of the Promontory Network. A depositor's funds are placed at a relationship institution (a Network member) using ICS and sent from that account to savings accounts at other ICS Network institutions – each a regulated, depository institution. ICS allocates funds to savings accounts (money market deposit accounts) at other member banks in amounts below the standard FDIC insurance maximum so that both principal and interest are eligible for FDIC insurance. Customers receive an account statement from the relationship institution, and confidential information remains protected. Working directly with just one bank, a customer can receive insurance coverage from many.
 

MARKET PROFILE

Formally launched in September 2011, ICS has been well-received. Already more than 600 banks have signed up to offer the service. And as of September 2011, outstandings placed with member banks total in the billions, and per-customer ICS balances average over $1.5 million.

PROGRAM BENEFITS

ICS can help participating banks to:

• Compete head-on with the largest financial institutions for money market mutual fund monies
• Compete on dimensions other than price – and, in particular, to feature access to significantly higher levels of FDIC coverage than banks of any size can offer on their own
• Improve margins and asset liquidity by reducing ongoing collateralization requirements

Operationally, ICS:

• Offers true reciprocal funding
• Gives member banks the flexibility to set the rates they offer
• Does not require member banks to manually track customer withdrawals
• Does not require member banks to secure large-dollar deposits and track collateral values on an ongoing basis

All of this makes ICS more convenient than other deposit sweep services.

PROGRAM CONTACTS

Promontory Interfinancial Network, LLC
1515 North Courthouse Road, Suite 1200
Arlington, VA  22201
Web Site: www.promnetwork.com
Contact:  Steve Kinner
Tel: (703) 292-3445
Toll Free: (866) 776-6426
Email: sales@promnetwork.com

CAB CONTACT

Lisa Gold Schier   Tel: (202) 663-5098
Email: lgoldsch@aba.com