| Securities
Safekeeping
Provides a cost effective and highly automated
response to our client banks' needs for their own securities portfolios
and for their trust customers.
Key Highlights
• On-line access to real-time transaction data
• Full compliance with FHLB collateralization of Advances
• Fees include up to 240 trades and/or paydowns
• No charge for posting interest and dividend payments
Capabilities
Our alliance partner, State Street Bank &
Trust Company, only business is securities processing and they have
been in business for over 200-years. State Street Bank is a $110
billion institution that has over $12 trillion of assets under custody,
21,900 employees, global custody capabilities in 100 countries and
is supported by the most sophisticated technology available. They
are currently providing safekeeping services to over 60 banks in
New England. Through State Street Bank, Bankers’ Bank Northeast
is currently providing safekeeping to 35 community banks representing
86 accounts and with a total securities market value of over $2
billion.
We offer a preferred pricing of 1.2 basis points
(on portfolio's that are $24.5 million or greater) of the mark-to-market
value of the portfolio adjusted monthly. Our minimum fee will
apply if the portfolio is below $24.5 million. The service
includes 240 trades or pay-downs per year plus there is no charge
for interest or dividend payments posted.
As part of our basic service (no additional
charge), Investors Bank can install its on-line SEI system
which enables you to monitor your account with up-to-the-minute
accuracy, generate customized reports and download files.
An enhancement called InvestPort gives you 24-hour, fully
secured up-to-date access via the Internet.
Request Information
regarding SECURITIES SAFEKEEPING services.
|
