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Repurchase Investment Sweep

Invest extra cash

Efficiently manage and monitor daily cash position with Fidelity Bank’s Overnight Repurchase Agreement (Repo) Sweep account. The Repo Sweep account provides daily automatic investment of excess collected funds in an Analyzed Business Checking account, with the extra benefit of collateralization of the excess balances invested.

By linking an Analyzed Business Checking account to a Repo Sweep, all activity (deposits, checks and other transactions) flows through the account, resulting in a net investment position at the end of each business day. The last transaction of the day automatically transfers the excess collected balances in the checking account to an Overnight Repurchase Agreement for investment. As funds are needed to cover items presented for payment in the checking account, such as checks or outgoing wire transfers, balances are automatically transferred from the Repo Sweep account to the checking account to pay those items.
Features include:
  • Eliminate the time spent analyzing cash flow, reconciling, monitoring and transferring funds to determine your daily investment position
  • Establish a target collected balance based upon your daily account balance and activity
  • Deposits held in a Repo Sweep account are collateralized by bank-owned government securities
  • Daily confirmation notices of the assigned collateral and investment balances are sent to account holders
  • Simple interest is accrued daily and paid monthly
Subject to approval. Fees and restrictions may apply. Ask us for more details.