Treasury Management:
Investment Sweep

A PlainsCapital Sweep Account provides automatic investment of idle cash, competitive short-term interest rates and convenience by eliminating the need for daily cash management. You set the peg balance on your PlainsCapital Bank checking account and any funds that exceed that balance are automatically transferred into a concentration account on a daily basis. Those funds are then swept into time deposits at PlainsCapital Bank's Cayman Islands branch.

Funds are automatically available to meet operating requirements while excess funds are invested.

• Earn competitive short-term interest rates on idle funds
• Investment sweep is automatic, no phone authorizations required
• Eliminates the need to track and transfer balances daily
• Funds are available during business hours with principal and interest returned to the checking account
• Interest accrues daily and is credited to your account on the last day of the month
• The minimum deposit is $100,000
• PlainsCapital Bank Cayman time deposits are quoted in basis points which are hundredths of a percent
• Yields vary according to money market conditions and size of deposits
• PlainsCapital Bank Cayman time deposits are not marketable or transferable

Risk

PlainsCapital Bank Cayman time deposits are unconditional obligations of PlainsCapital Bank that are not insured and carry no FDIC insurance. PlainsCapital Bank Cayman time deposits are subject to the laws and regulations of the Cayman Islands (sovereign risk). Restrictions on withdrawals may be imposed by the Cayman Islands government. Payment of deposits is not guaranteed by any domestic office of PlainsCapital Bank if the Cayman Islands Branch is precluded from making payment due to any restriction imposed by the Cayman Islands government.

Tax Status

Income from the PlainsCapital Sweep Account is subject to federal income taxes and is subject to taxation from some state and local governments. A separate Cayman Islands tax return is not required. For specifics on taxation, consultation with a tax advisor is recommended.

Contact Us

To learn more about PlainsCapital Treasury Management services or to arrange an online demonstration, call 214-252-4000.