Promontory Interfinancial Network, Inc.


Nearly 2000 financial institutions are members of the Promontory Interfinancial Network.  They use CDARS® (pronounced "cedars") to enhance their profitability, attract large-dollar deposits.  

With CDARS®  – the Certificate of Deposit Account Registry Service® -- banks can offer customers up to $50 million in FDIC insurance, place "excess" deposits with other Network members, and earn fee income, as well as purchase funds at competitive rates (without collateralization or credit limits.)

Learn more: http://www.promnetwork.com Want more information? Contact our Phil Pratt (617) 969-4505 ppratt@promnetwork.com

Promontory Interfinancial Network, LLC is pleased to announce the arrival of Prepaid Assessment Marketplace^SM, a secure online marketplace that facilitates the transfer of FDIC prepaid assessments (“credits”) among banks.   The website, developed as a service for the banking industry, is now available for banks like yours to use free of charge.   

With this service, a participating bank can:  

•  See the prices at which banks have expressed interest in buying and selling prepaid assessment credits in specified amounts;

•  Enter an indication of interest (IOI) in buying or selling credits by entering a desired amount (in face value) and price (a percentage of face value);

•  Receive notification from Promontory when the bank’s IOI is matched with another bank’s IOI;  and

•  Obtain other useful information, including a template transfer agreement, to help facilitate a transfer (which must be made through the FDIC and is subject to approval by the FDIC at its sole discretion).