EXECUTIVE SUMMARY
Founded in May 2002, Promontory Interfinancial Network
provides innovative, profit-building solutions to
financial institutions.
Promontory is a trusted partner to approximately 3,000 financial
institutions nationwide. Over forty percent of the banks in the
United States, from small community banks to large national
banks, are members of the Promontory Network, as are some
of the nation’s largest broker-dealers.
Promontory provides smart solutions – unique services that
bring institutions together in ways that enable each to benefit
from the power of many. Banks and other financial institutions use Promontory’s services as tools to help build milliondollar relationships, manage balance sheets, grow loans, buy and sell bank assets, and purchase cost-effective
funding. Promontory is the leading provider of FDIC-insured deposit allocation services.
Promontory’s ICS , CDARS , IND , and Bank Assetpoint services are endorsed by the American Bankers Association
through its subsidiary, the Corporation for American Banking. Promontory also enjoys strategic marketing alliances
with additional key trade associations across the country.
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PROFITABLE RELATIONSHIP-BUILDING SOLUTIONS
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With the ICS, or Insured Cash Sweep , and CDARS
services, Promontory Network members can offer their
customers convenient ways to earn interest and access
multi-million-dollar FDIC insurance through a single
financial relationship.
Deposits are placed in demand deposit accounts when
using the ICS demand option, money market deposit
accounts when using the ICS savings option, or CDs
when using CDARS.
Each Network member sets the interest rates for each
service or service option offered. This flexibility enables
Network members to manage their cost of funds within
the context of their local markets – so they are better
able to manage interest rate risk and avoid margin
compression.
ICS and CDARS appeal to institutions looking to build
and protect profitable, large-dollar relationships; reduce
collateralization; and replace higher-cost funding.
IND provides broker-dealers with a multi-bank deposit
sweep product, helping their customers to access multimillion-dollar FDIC insurance on cash balances. IND
appeals to broker-dealers by enabling them to control
margins and replace existing money market mutual fund
sweep accounts. Network banks utilize IND to access
large increments of cost-effective, long-term funding.
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Yankee Sweep enables broker-dealers and banks to
offer sophisticated investors the opportunity to place
their deposits at U.S. branches of select non-U.S.
banking organizations. Although these deposits are
uninsured, they are placed with U.S.-chartered branches
of foreign banks that are subject to Federal Reserve
Board regulation and may earn a higher rate of interest
than insured deposits.
With the Residential Mortgage Network, banks can
connect with buyers and sellers of residential mortgage
whole loan pools and also access correspondent
1515 N. Courthouse Road, Suite 1200 • Arlington, VA 22201 • (866) 776-6426 • promnetwork.com
EXECUTIVE SUMMARY
solutions from national mortgage firms. By connecting banks with national mortgage firms that buy residential
mortgage loans in the secondary market from banks that originate and fund the loans, the Residential Mortgage
Network can enhance banks’ ability to offer competitive products to customers, earn income, and reduce risk.
Bank Assetpoint is the only bank asset marketplace that brings more than 1,300 banks together with each other
and with more than 9,000 other buyers and sellers. Participants can search or showcase a variety of bank assets,
including whole loans, loan participations, new originations, and commercial real estate.
ASSET GROWTH AND DIVERSIFICATION SOLUTIONS
Residential Mortgage Pools
Promontory’s Residential Mortgage Network assists banks in buying and selling
residential mortgage loan assets in secondary market transactions. By leveraging
Promontory’s team of mortgage professionals, people who possess in-depth
knowledge of both banks and the residential mortgage market, banks can identify
targeted opportunities to buy and sell seasoned and newly orginated pools of
residential mortgage whole loans.
With the Residential Mortgage Network, banks that wish to buy pools of residential
mortgages can do so on a one-time, bulk basis or on an ongoing flow basis. Banks
can access newly originated inventory from top national originators and aggregators
of residential mortgages – typically up to $1 billion or more in mortgages is available
on a weekly basis. And banks can find seasoned residential pools for sale by REITs,
hedge funds, and other banks. Banks that wish to sell residential mortgage pools
can tap into an active buyer community that includes top mortgage companies,
REITs, and other mortgage buyers, in addition to other banks.
Commercial Real Estate Loan Assets and Properties
Bank Assetpoint provides access to a wider array of assets, services, and
opportunities through its experienced professional staff and technology platform.
With more than 9,000 participants, including 1,300+ banks, and featuring
thousands of local, regional, and national asset listings, Bank Assetpoint is
a vibrant marketplace.
Augmenting a substantial salesforce − a seasoned team with a deep
history of working with banks − Bank Assetpoint’s state-of-the-art, online
platform provides a streamlined, transparent, secure marketplace to
post or view loan, loan pool, loan participation, and commercial real
estate assets.
Bank Assetpoint includes Assetpoint Community®, a place where eligible
buyers and sellers of bank assets can search for providers of speciality
services, such as asset management, loan review, environmental diligence,
insurance, and other asset-related services that may help in a transaction.
Bank Assetpoint is operated by Assetpoint Services, LLC, a wholly owned subsidiary of Promontory Interfinancial Network, LLC. Use of the Bank
Assetpoint service is subject to the terms and conditions in the Bank Assetpoint agreements, including the Bank Assetpoint Participant Agreement.
1515 N. Courthouse Road, Suite 1200 • Arlington, VA 22201 • (866) 776-6426 • www.promnetwork.com
EXECUTIVE SUMMARY
COST-EFFECTIVE FUNDING AND COLLATERAL REDUCTION SOLUTIONS
Promontory offers numerous, billion-dollar funding
options, each available without collateralization or stock
purchase requirements. Terms range from 4 weeks to
7 years.
With ICS® One-Way Buy®, CDARS® One-Way Buy ®,
and CDARS ® Floating-Rate FundingSM transactions, a
Promontory Network member can buy funds from other
members that wish to sell excess deposits (just the
funding, not the relationships) and earn fee income.
With IND, funding comes from cash in broker-dealer
customer accounts.
The Yankee Sweep service provides participating U.S.
branches of non-U.S. banking organizations with access
to funding in terms from 1 to 5 years at variable rates,
helping them to manage liquidity.
Amount
Term
Type
ICS One-Way Buy
Billions of dollars placed through ICS
3 months to multiple years
Variable rate
CDARS One-Way Buy
Billions of dollars of wholesale
funding available
4 weeks to 5 years
Fixed rate
CDARS Floating-Rate Funding
$5M to $1B or more of wholesale
funding available through rolling, shortterm, 4-week or 13-week CDs
1 to 7 years
Variable rate
IND
Generally, $25M to multiple billions of
dollars available
1 to 5 years or more
Variable rate
Yankee Sweep
Billions of dollars available
1 to 5 years
Variable rate
CONTACT US
For more information about specific service offerings, please contact us at (866) 776-6426 or
[email protected].
If you are interested in a partnership or other strategic affiliation, please contact us at
[email protected].
Members of the media should contact Phil Battey, Senior Vice President, External Affairs, at (866) 776-6426 (x3357) or
[email protected].
1515 N. Courthouse Road, Suite 1200 • Arlington, VA 22201 • (866) 776-6426 • promnetwork.com
EXECUTIVE SUMMARY
PROMONTORY ADVISORY BOARD
Founders
Eugene A. Ludwig
Chairman, Promontory Interfinancial Network
Former Comptroller of the Currency
Mark P. Jacobsen
President & CEO, Promontory Interfinancial Network
Former Chief of Staff, Comptroller of the Currency and FDIC
Alan S. Blinder
Vice Chairman, Promontory Interfinancial Network
Former Vice Chairman, Federal Reserve Board
Alfred H. Moses
Vice Chairman – Law, Promontory Interfinancial Network
Senior Partner & CSO, Promontory Financial Group
Senior Counsel, Covington & Burling
Art Certosimo
Vice Chairman, Promontory Interfinancial Network
CEO of Global Markets, The Bank of New York Mellon
Mary L. Schapiro
Advisory Board Vice Chair, Promontory Financial Group
Former Chairman, SEC
Former CEO, FINRA
Izzy Dawood
Director of Global Corporate Development,
The Bank of New York Mellon
Kenneth M. Duberstein
Chairman & CEO, The Duberstein Group
Former White House Chief of Staff
Edward W. Kelley, Jr.
Former Governor, Federal Reserve Board
Donald G. Ogilvie
Former President & CEO, ABA
Former Chairman, American Bankers
Association International
Jeffrey B. Schreier
Eastern Region Manager,
Metropolitan Capital Investment Banc
J. Michael Shepherd
President & CEO, Bank of the West
O. Jay Tomson
Chairman, First Citizens National Bank, Mason City, IA
Former President, Independent Community Bankers
of America
Frank G. Zarb
Senior Advisor, Hellman & Friedman LLC
Non-Executive Chairman, Promontory Financial Group
Executive-in-Residence, Columbia University
Use of the CDARS and ICS services is subject to the terms, conditions, and disclosures set forth in the applicable program agreements, including the
applicable Participating Institution Agreement and Deposit Placement Agreement. Limits apply, and customer eligibility criteria may apply. ICS program
withdrawals are limited to six per month when using the savings option.
Bank Assetpoint, CDARS, ICS, Insured Cash Sweep, IND, One-Way Buy, and Yankee Sweep are registered service marks of Promontory Interfinancial
Network, LLC. Floating-Rate Funding is a service mark of Promontory Interfinancial Network, LLC.
© 2015 Promontory Interfinancial Network, LLC.
1515 N. Courthouse Road, Suite 1200 • Arlington, VA 22201 • (866) 776-6426 • www.promnetwork.com