We provide administrative and recordkeeping services to participating banks and other financial institutions (“participating institutions”) for sweep and deposit placement programs. The Demand Deposit Marketplace® (DDM®) program is administered by Stable Custody Group II LLC and is used principally by banks and other depository institutions. The R&T Insured Deposits (RTID®) program is administered by Reich & Tang Deposit Solutions and the legacy TBS Insured Deposit Program (“IDP”) is administered by Total Deposits Solutions, LLC. Both RTID and IDP programs are used principally by broker-dealers, wealth firms and other financial institutions that wish to place their customers' funds awaiting investment into a network of participating banks. Our services are provided subject to the terms and conditions of our written agreements that we enter into with our participating institution client. We are not a depository, bank or credit union and the sweep and other programs we administer are NOT, themselves, FDIC-insured or NCUSIF-insured products. Rather, under the programs we administer, funds are swept or placed into deposit accounts at receiving institutions that are FDIC and/or NCUSIF insured, subject to program limits. Below are links to the lists of banks and savings associations with which we have a business relationship for the placement of deposits under each of the programs we administer and into which a participating institution may place deposits under the program (“our bank list”).
Under each of these programs, a participating institution may, in turn, offer the program to its customers. As each participating institution is unique, each participating institution’s program and bank list will be unique to that institution and its bank list may represent a sub-set of, and vary from, our bank list published below. Differences between our bank list and a participating institution’s bank list can occur for several reasons, including but not limited to features of the program such as the level of FDIC insurance offered by the participating institution to its customers, the decision by a participating institution to ‘opt-out’ of, and not include, a bank from our bank list in the program that it offers to its customers, customer account types and design elements such as the overall program size and minimum eligibility criteria. Customers of participating institutions should contact their participating institution to obtain the list of banks and savings associations with which their participating institution has a business relationship for the placement of deposits under their program and into which that participating institution may place the customer’s deposits.