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X j <br />Previous day reports <br />S ;veep Account Position F=riday: 5:,.-M <br />S,M,fr(MY: 3:00 a.m. <br />7. Describe how sweep interest earned from the sweep will be applied and <br />reported to the City (at the account level or master account level) <br />monthly. <br />Sweep earnings are reported at the account level. <br />8. If an SEC registered money market fund is utilized for the application, <br />include the full name and CUSIP of the fund along with a copy of the <br />prospectus. Provide minimum amounts and cut -offs including any other <br />pertinent requirements of the fund. <br />Not applicable. <br />9. Complete historical rate information on the sweep (for all alternatives) <br />in Attachment "C ". <br />Please see Attachment C included in Section 2 of this response. <br />10. State how and when FDIC assessments will be collected and calculated. <br />How will special assessments and multiple year assessments be handled. <br />At what rate is the assessment as of July 1, 2015? <br />Wells Fargo charges a recoupment fee to partially recover deposit insurance <br />premiums that we pay to the Federal Deposit Insurance Corporation (FDIC)., <br />We assess the fee on a monthly basis at 0.1275 per $1,000 of your positive <br />average ledger balance for the month. Your account analysis statement will <br />detail this fee as an individual charge. <br />The FDIC does not charge a bank's depositors for deposit insurance or require banks to pass <br />the cost of deposit insurance on to their depositors. <br />u. Is the applicant providing the Federal Deposit Insurance Corporation <br />( "FDIC ") backed NOW accounts that are fully FDIC insured? At what <br />rate? <br />Not at this time. <br />Interest earned on interest bearing accounts will not be charged as an <br />expense on the account analysis. Confirm your agreement to this <br />condition. <br />Wells Fargo understands and agrees to this requirement <br />