Res 2006-035 - Laserfiche WebLink

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I I 13. ACH Blocks and Filters ACH Blocks and Filters allow the City to universally or selectively block incoming ACH credIts or debits from posting to their accounts. The service is structured to provide the level of control that best meets the City's needs. The City will determine whether or not transactions post to its account. The City will instruct the Depository to "pay all," "pay nothing," or "pay only those transactions" that the City authorizes. 14. Safekeepinl! and Securities Clearinl! Services The Depository will provide the City with a broad range of custody and securities clearing services, freeing the City from the details of daily securities management while providmg protection for the securities on deposit in the safekeeping account Safekeeping Operations are centralized in Charlotte, North Carolina. All book-entry US Government and Government Agency securities are held at an appropriate regional Federal Reserve Bank. Most other securities, including physical securities, are kept at Deutsche Bank, New York, or Bank of New York, New York, and DTC to facilitate clearing and collection on a book-entry basis. Securities deposited to or withdrawn from safekeeping that are traded through Client Investment Strategies (CIS) interface with our trading systems, automatically updating safekeeping records. Safekeeping account information is also available on the Banc of America Securities Connection service, offered by CIS. 15. Collateral The Depository will use an automated collateral pledging system that monitors the CIty's uninsured deposit balances daily and adjusts pledged collateral amounts daily to meet the needs of the City. The City will have access to a daily report on line of uninsured deposit totals and pledged collateral total. Market value of collateral is determined daily and a complete description of each security pledged is available on-line daily to the City. This process does not allow for a pegged minimum amount pledged to the City; however the City may select to have up to 102% collateral coverage without any fee for the collateral pledging service. Tri-Party Collateral provides reports through INFORM. Bank of America will utilize Bank of New York as specified in the Tri-Party Agreement. The Depository will not assess collateral charges if the City elects to use the Tri-Party Collateral Agreement method. If the City elects to use the Federal Reserve Bank as custodian, the City will be charged 25 basis points for average excess collateral. The charge will appear on the account analysis statement. 16. Account Analysis The City has access to Account Analysis which provides a monthly recap of the balances the City has maintained with the Depository and the services the Depository has provided, including volumes and fees. The City's contract pricing is placed at the group level to be assigned to all accounts within the group upon implementation of the banking relationship. I The Depository's Earnings Credit Rate (ECR) on the City's account is used to calculate the Earnings Allowance, which is based on the City's average investable balance. The Depository Bank of America. Page 5