Thanks for sharing the article Barb. I like using the explanation "deposit swapping" to help explain the program to our customers.
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John Tyson
CFO;Chief Financial Officer - CFO
Altamaha Bank & Trust Company
Vidalia, GA
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Original Message:
Sent: 08-25-2023 17:01
From: Barb Rehm
Subject: Having Trouble Explaining Reciprocal Deposits?
I hope you all read this story in Independent Banker last week: "How Banks Can Combat Deposit Insurance Disruption." It's quite well done, and I was especially taken by a quote low in the story making the point that a year ago rates were all that mattered to large depositors. No longer. "A year ago, I wasn't having conversations about the FDIC," a New Hampshire banker told Independent Banker. "Customers wanted to know what their rate of return would be. Now, the first question is, 'What's insured?'"
Are you getting the same questions? Would you welcome our help in explaining reciprocal deposits? I would be happy to get one of IntraFi's experts to talk with you or your staff to explain how you can offer large-dollar customers access to FDIC insurance through either ICS or CDARS.
Email me or call any time at 703-473-7481.
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Barb Rehm
Senior Managing Director
IntraFi Network
Arlington VA
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