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Repurchase Agreement Sweep Service

Let Broadway Bank help you keep excess cash invested at all times.

Broadway's Repurchase Agreement Sweep Service (Repo Sweep) will automatically invest your company's idle balances. Repo sweeps require a minimum sweep investment of $100,000 each day for investment. Funds are transferred into an investment account collateralized by "bank-owned" U.S. Government mortgage-backed securities. Just specify a target balance for your primary deposit account and funds will be transferred into the collateralized account daily.

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The benefits of Interest Checking Sweep

  • Increase earnings. Keep excess cash invested at all times for maximum return.
  • Eliminate overdrafts. Have funds automatically swept from your investment fund to checking as needed.
  • Increase efficiency. The automated sweep system means less staff time spent monitoring, handling and forecasting your daily cash position.

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How does Interest Checking Sweep work?

  1. Specify your desired "target" balance for your primary deposit account (DDA).
  2. Maintain a minimum of $100,000 balance exceeding the "target" balance maintained in the checking account.
  3. Broadway links your DDA to the collateralized investment* account through our deposit and "Cash Manager" Systems.
  4. At the end-of-posting each day, we automatically make transfers to meet the DDA's target balance.
  5. Each month, Repo investment statements and interest are credited to your checking account.

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Easy Solutions

With business operating accounts, payroll processing, credit cards, lines of credit and equipment loans, we have what it takes to move your business forward.

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As a regional, independent bank with deep ties in the community, our bankers have an understanding of this market and know how to position you for success.

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Success lies between knowing you have the personal touch of a small bank paired with the expertise of a Wall Street titan. As the region’s largest and strongest independent bank you get the best of both.

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Contact our Treasury Solutions team today to see how you will benefit from modern banking that’s locally sourced and personally delivered.

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A separate agreement and fees may apply.

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