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<br />Norwest will also provide the City with the original safekeeping receipt on each pledged <br />security which will be filed with the Budget Officer of the City. Written release by the City <br />is required for all releases or substitutions of pledged accounts. <br /> <br />Monthly Collateral Report <br /> <br />2.2.9 Provide to the City, on a timely basis, a monthly report of pledged securities for each <br />month. This report should provide the following information: <br /> <br />a. Account number, account name, date account opened, month-end <br />balance. <br />b. Security type, description, CUSIP number, maturity date. <br />c. Original face value. <br />d. Market value at month end, collateral value at month end <br />e. Moody's and/or Standard & Poor's Rating. <br />e. Amount of security excess/deficiency for the month. <br /> <br />2.3 FUND TRANSFER REQUIREMENTS <br /> <br />Norwest will: <br /> <br />2.3.1 Give both ledger and collected credit the day of a wire receipt, regardless of the time <br />Norwest receives the transfer through the Fedwire System. Credit to City accounts for <br />incoming wire transfers will be immediate. Because the City actively invests in marketable <br />securities, an outgoing wire transfer will be made by Norwest in the morning for the <br />reinvestment of funds expected by an incoming wire transfer. Norwest will allow the City to <br />reinvest and to wire funds out in anticipation of an incoming wire transfer later in the day. <br /> <br />2.3.2 Not charge the City for daylight overdrafts. When a daylight overdraft is anticipated, <br />a City official will notify the designated official of Norwest of the situation and will take <br />appropriate action to avoid daylight overdrafts. Norwest will notify the City of incoming wire <br />transfers or problems with outgoing wire transfers within one hour of the transaction. The <br />City allows authorized employees to initiate wire transfers. All authorized employees will <br />be issued a personal identification number in order to initiate wire transactions. An <br />executed Wire Transfer Services Security Procedure Agreement is attached as Attachment <br />D, an executed Wire Transfer Services Customer Setup and Change form is attached as <br />Attachment E, a sample Repetitive Transfer Request is attached as Attachment F and a <br />sample Wire Transfer Request is attached as Attachment G. <br /> <br />2.4 OVERDRAFTS <br /> <br />Norwest will: <br /> <br />2.4.1 Allow a maximum amount of net overdraft of $500,000. Norwest will allow an <br />overdraft for a maximum of 5 days. The City does not intend to have a net overdraft position <br /> <br />9 <br />