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Promontory Interfinancial Network is now IntraFi Network. New name, same great company.

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IntraFi Yankee SweepSM – Risk management, return potential, liquidity.

IntraFi Yankee Sweep is a deposit-sweep product offered to U.S. banks with sophisticated customers as an alternative vehicle for managing cash.[1] Banks set the interest rate, and their customers enjoy daily liquidity without being subject to money market mutual fund redemption gates, fees, or floating net asset values. 

Through IntraFi Yankee Sweep, customer funds are placed with one or more uninsured U.S.-domiciled branches of foreign banks, including some of the world’s largest. All participating foreign banks are subject to oversight from the Federal Reserve Board and rated by Standard & Poor’s, Moody’s, or Fitch. In addition to credit diversification, such banks may offer diversification by country.

In turn, 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.

IntraFi Network offers a number of products to help community banksregional and money center banksbrokerage firmstrust and wealth managers, and fintechs to build valuable relationships.

 

[1] Deposits placed through IntraFi Yankee Sweep are not eligible for FDIC insurance.