The Network Rate has changed to 3.88%

The new rate takes effect today, September 18th

Good morning,

This is a notification that the Network Rate for deposits held in the NBID Network has changed, following the Federal Reserve rate decision this week. The rate earned or owed by your institution on one-way deposits will change accordingly. There is no net impact for fully reciprocated institutions.

The new Network Rate is 3.88% and takes effect today, Friday, September 18, with funds held overnight in the network tonight earning the new interest rate.

The new rate will be applied automatically across the platform, and no action is required on your part. If you wish to adjust fixed account-level rates earned by your depositors, you can do so through the Admin Portal when the change is confirmed. Floating account-level rates will adjust automatically based on their reference index.

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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