Corporate Cash Sweep
California Bank & Trust's Corporate CashSweep program helps you manage your cash and enhance your earnings potential by automatically transferring idle funds into higher yielding investments. Choose from a number of liquid money market funds, including U.S. Government-insured and U.S. Treasury-backed funds. With Corporate CashSweep:
- First, we'll work with you to establish a target account balance to maintain.
- Each business day, after all account activity is processed, excess balances above your target balance are automatically invested overnight.
- Your invested funds are automatically returned to your designated account, as needed to cover balance requirements.
- Daily CashSweep investment activity and monthly statements are available online through CalBank Network, CB&T's Internet cash management service.
Advantages of CB&T's Corporate CashSweep Service:
Enhanced profitability since your excess cash remains invested, with funds withdrawn only when needed. Dividends are automatically reinvested into your fund.
Improved financial control with the ability to combine both business checking and investment transactions into a single source at California Bank & Trust.
Increased staff efficiency since your idle cash is automatically invested, freeing your staff for other productive work.
Simplified information tracking and access with a monthly summary of all transactions, and online access to transaction activity.
Investment Sweep account funds are NOT insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency, are NOT guaranteed by California Bank & Trust and MAY involve investment risk, including cross-border risks and possible loss of principal amounts invested. Swept funds will not be treated by the FDIC as deposit obligations in the event of liquidation of the Bank, meaning that swept funds will not be eligible for deposit insurance coverage and will not be afforded status as a deposit under depositor preference statutes. Your Checking Account funds are insured by the FDIC until they are transferred outside the Bank to pay for your Fund investment. This applies not only to funds held in your Checking Account, but to any funds that we hold for you in an omnibus (holding) account with other sweep customer funds pending their transfer outside the Bank. When we redeem your Fund investment in accordance with this Agreement, the proceeds will become part of your insured Checking Account when they are received by us, even if they are held by us in an omnibus account with other customer funds pending their credit to accounts. Funds transferred outside the Bank to your fund investment, and redemption proceeds which have yet to be received by us are not Bank deposits and are not insured by the FDIC. In the unlikely event of the Bank's failure, your ownership interest in Fund shares would be recognized by the FDIC, and you would not be a creditor of the Bank in connection with your fund investment.
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