Most banks typically invest all or part of their liquid funds into a Fed Funds investment with major banks around the country on a daily “overnight” basis. To simplify this activity, PCBB offers a very competitive Fed Funds “As Agent” Program.

PCBB averages over $3.0 billion in Fed Funds traded every day, servicing over 285 institutions. Fed Funds sold “As Agent” are placed with only the highest ranking domestic financial institutions, with PCBB acting as agent. “As Agent” Fed Funds are distributed proportionately to the financial institutions sold to each day, resulting in the elimination of any concentration of risk issues.

The community banks that purchase funds from the pool are monitored by PCBB for Regulation F compliance. Detailed documentation on the purchasing banks is furnished quarterly to the respondents who sell their Fed Funds into the pool. This conservative money management program significantly diversifies your Fed Funds investments and provides a competitive overnight yield.

Funds may also be purchased from PCBB with an established Fed Fund Facility.

The Benefits of Trading Your Fed Funds with PCBB:

• Reduction of credit risk because funds are distributed among many banks.
• All excess available funds, above a designated “target”, can be swept for overnight investment.
• Elimination of concentration of credit risk and potential criticism by examiners.
• Purchasing banks are reviewed quarterly to ensure financial strength and Reg F compliance.
• Competitive rates from the pooling of funds by PCBB acting “As Agent”.
• No charge for draw down and incoming investment wires.
• Daily activity details are available online via Correspondent Bank Connection (CBC).

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