Choose the network that expands cash management options
IntraFi® Yankee Sweep® is a deposit-sweep product offered to U.S. banks with sophisticated customers as an alternative vehicle for managing cash. Through the service, customer funds are placed with uninsured U.S.-domiciled branches of foreign banks, including some of the world’s largest.
Why choose IntraFi Yankee Sweep?
Deposits are placed with U.S.-chartered branches of foreign banks that are subject to Federal Reserve oversight regulation and have international credit ratings; a designated bank or brokerage firm acts as each investor’s custodian.
Enjoy liquidity - funds may be withdrawn at your convenience
Greater yield potential and geographic diversification
IntraFi Network Members
Build valuable relationships with sophisticated customers by offering an alternative cash management vehicle with potential for higher yield
Set the interest rate for your customer
Foreign banks seeking U.S. dollar deposits can access large, cost-effective amounts of cash — from $100 million to billions of dollars — without the need to provide collateral
When deposited funds are exchanged on a dollar-for-dollar basis with other banks in IntraFi's network of financial institutions, your bank can use the full amount of a deposit placed through ICS and CDARS for local lending, satisfying some depositors’ local investment goals or mandates.
Deposit placement through IntraFi’s deposit placement services is subject to the terms, conditions, and disclosures in the program agreements. Limits apply and customer eligibility criteria may apply. ICS program withdrawals may be limited to six per month for money market deposit accounts. Deposits are placed at destination institutions in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination institution. Using multiple destination institutions provides access to aggregate insurance amounts across institutions that are multiples of the SMDIA. Although deposits are placed at destination institutions in amounts that do not exceed the SMDIA at any one destination institution, a depositor’s balances at the relationship institution that places the deposits may exceed the SMDIA (e.g., before settlement for a deposit or after settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not an insured depository institution). The depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on deposits of its funds, the depositor is responsible for determining whether deposit placement through IntraFi’s services satisfies those restrictions. A list identifying IntraFi network banks may be found at https://www.intrafi.com/network-banks. The depositor may exclude particular insured depository institutions from eligibility to receive the depositor’s funds.