Program Banks definition

Program Banks means the depository institutions identified on the Program Bank List. “Rollover Contribution” has the meaning given that term in Code Section 223.
View Source
Program Banks has the meaning set forth in Section 3.13 (Custodial Structure) of the PMA.
View Source

Examples of Program Banks in a sentence

  • Deposits by you into Program Banks, outside of the Bank Deposit Sweep Programs, may adversely affect the FDIC coverage of your funds.

  • You will receive the same interest rate on deposits at the Program Banks in the Bank Deposit Sweep Programs.

  • The Expanded Bank Deposit Sweep consists of interest bearing deposit accounts at affiliated and unaffiliated Program Banks.

  • You will have less FDIC insurance coverage available if you choose to exclude the unaffiliated Program Banks and, if you have sweep deposits in excess of $500,000 ($1 million for joint accounts) you may have uninsured deposits at the Affiliated Banks through the Standard Bank Deposit Sweep.

  • We and the Program Banks may pay rates of interest on the Expanded Bank Deposit Sweep that are lower than prevailing market interest rates.

  • You may not designate that Affiliated Banks be excluded from the Expanded Bank Deposit Sweep or exclude less than all of the unaffiliated Program Banks.

  • Once your funds in a Deposit Account at any of the individual Program Banks reach 95% of the applicable FDIC insurance limit, any additional funds will be deposited at another Program Bank.

  • You may, at any time, elect to exclude the unaffiliated Program Banks from the Expanded Bank Deposit Sweep.

  • This fee includes an asset-based fee, which will vary based on deposit balances at the unaffiliated Program Banks.

  • Funds invested in a Money Market Fund are not guaranteed or insured by the FDIC or any other government agency and are not deposits of a bank or bank affiliate, including the Program Banks.

Related to Program Banks

  • INTERCAM BANCO undertakes to provide the "CUSTOMER" the Host to Host Banking service, through which it will allow the "CUSTOMER" to send or receive files in ".txt" format, for payments in SPEI, SPID, international transfers, credit card payments, as well as for balance inquiries and electronic account statements through SWIFT MT940 and SWIFT MT942. Likewise, the "CUSTOMER" must designate and register the beneficiaries in the terms set forth in the common legislation. Notwithstanding the foregoing, "INTERCAM BANCO" may make available to the "CUSTOMER" other formats that expand the range of operations and services provided through Host to Host Banking that "INTERCAM BANCO" will make known to the "CUSTOMER". "INTERCAM BANCO" will provide the connection to the Host to Host Banking service through a Secure File Transfer Protocol, "SFTP" (for its acronym in English), or through an Application Programming Interface, "API" (for its acronym in English). For purposes of the foregoing, in order to request the activation of the Host to Host Banking service, the "CUSTOMER" must have previously contracted an "Account" with "INTERCAM BANCO" in terms of Chapter I of this "Agreement". The "CUSTOMER" shall indicate to "INTERCAM BANCO" through the Host to Host Banking service the personnel authorized to register and carry out operations in the "Account(s)", who shall be solely responsible for the use of the system used by the "CUSTOMER" for its connection to the Host to Host Banking service. THIRTEENTH ONE. "INTERCAM BANCO" will provide the Host to Host Banking service from 9:00 a.m. to 4:00 p.m. every "BUSINESS DAY". Likewise, "INTERCAM BANCO" may extend or restrict the hours in accordance with its operational needs, having to previously inform the "CUSTOMER" by the means agreed by both for such purpose under this service and/or "Contract".

  • Database Management System (DBMS) A system of manual procedures and computer programs used to create, store and update the data required to provide Selective Routing and/or Automatic Location Identification for 911 systems. Day: A calendar day unless otherwise specified. Dedicated Transport: UNE transmission path between one of CenturyLink’s Wire Centers or switches and another of CenturyLink’s Wire Centers or switches within the same LATA and State that are dedicated to a particular customer or carrier. Default: A Party’s violation of any material term or condition of the Agreement, or refusal or failure in any material respect to properly perform its obligations under this Agreement, including the failure to make any undisputed payment when due. A Party shall also be deemed in Default upon such Party’s insolvency or the initiation of bankruptcy or receivership proceedings by or against the Party or the failure to obtain or maintain any certification(s) or authorization(s) from the Commission which are necessary or appropriate for a Party to exchange traffic or order any service, facility or arrangement under this Agreement, or notice from the Party that it has ceased doing business in this State or receipt of publicly available information that signifies the Party is no longer doing business in this State.

  • CRAF Program means the Civil Reserve Air Fleet Program authorized under 10 U.S.C. Section 9511 et seq. or any similar or substitute program under the laws of the United States.

  • Database Management System (“DBMS”) is a computer process used to store, sort, manipulate and update the data required to provide Selective Routing and ALI.

  • Account Banks means the credit institutions administering the Accounts and “Account Bank” means any of them.