Potential Network Rate Adjustment Notice

A courtesy reminder ahead of Wednesday's FOMC announcement

This is a courtesy reminder that the Network Rate is a variable rate and will adjust accordingly to remain in-line with prevailing market rates.

If the Effective Federal Funds Rate changes following the Federal Open Market Committee announcement on Wednesday (9/16), network institutions should expect the Network Rate to adjust to reflect that change, with the new rate taking effect on Friday (9/18). We will provide a confirmation notice on Wednesday (9/16) with additional details on the updated rate if an adjustment is to occur.

Institution-level changes will be applied automatically across the platform, and no action is required on your part. If you wish to adjust account-level rates earned by your depositors, you can do so through the Admin Portal once the change is confirmed.

Thank you for your continued partnership.

Best,
NBID Operations

NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at nbid.com/bank-list.

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