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Premier MoneyVest Premier MoneyVest provides all banks, large or small, with an extraordinary solution for managing reserve requirements to increase investment income. MoneyVest enables banks to seize the opportunity offered by Federal Reserve Regulation D. It converts transaction-based account balances into non-transaction-based account balances, which lowers reserve requirements and turns non-earning assets into earning assets. System Summary To achieve reduced reserve requirements, demand deposit accounts (DDA) and savings accounts are selected by Class Code to be processed by Premier MoneyVest. For each DDA or savings account, MoneyVest generates both a non-transaction-based subaccount that has no reserve requirements and a transaction-based subaccount that is subject to reserve requirements. Funds from the DDA or savings account are represented in the two subaccounts. At the beginning of each month, MoneyVest uses multiple account-level evaluation methods to determine how much of the DDA or savings account balance is distributed between the two subaccounts. As customer activity is presented, funds are taken from the transaction account. When the transaction account can no longer support customer activity, MoneyVest automatically transfers funds from the non-transaction account into the transaction account. For example, the optimum method for an account that typically has less than six transfers each month is to transfer the entire balance to the non-transaction account at the beginning of each calendar month, thus eliminating any reserve requirements for the month. If the account should reach the regulatory requirement limit of six transfers per month, the accounts’ non-transaction account balance is transferred to its transaction account. The non-transaction account remains active for the remainder of the calendar month. Account Evaluation Premier MoneyVest has multiple methods for evaluating accounts in order to capitalize on the varying levels of customer activity and maximize the diversity of accounts that can be processed. By reviewing an account’s history and comparing factors such as the daily transfer activity, average transactions per month and average account balance, MoneyVest predicts the optimum method for minimizing the required reserves on a month-by-month, account-by-account basis. Characteristics and Features
Customer Accounting and Notification All activity generated by Premier MoneyVest is invisible to customers. Customer statements, interest earning, availability of funds and statements are unaffected by the transferring of funds between subaccounts. Disclosure to customers is required by the Federal Reserve. Consult with your compliance officer to determine the required regulatory disclosures to customers.
For more on Premier MoneyVest, contact Fiserv, Inc. |
