Corporate Cash Sweep
Put your idle funds to work and improve overall profitability.
Our Corporate Cash Sweep program keeps your idle funds at work, enhancing your earning potential by transferring those idle funds into higher yielding investments each business day. Choose from a number of liquid money market funds, including U.S. Government-insured and U.S. Treasury-backed funds.
You simply establish a target balance you want to maintain. Each business day – after all account activity is processed – excess balances above your target balance are automatically invested overnight. Then they’re automatically returned to your designated accounts to cover balance requirements for the next business day.
Daily Cash Sweep investment activity and monthly statements are available online through CalBank Network℠, CB&T's Internet treasury management solution.
Benefits:
- 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 because your idle cash is automatically invested, freeing your staff to be more productive.
- Simplified information tracking and access with a monthly summary of all transactions and online access to account 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. California Bank & Trust, a division of ZB, N.A. acts as an agent when selling money market mutual funds. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. Money market mutual funds are sold by prospectus only. Before investing, you should carefully read the prospectus and consider the fund's investment objectives, risks, charges and expenses.
