What is a Pershing government account?
What is a Pershing government account?
Pershing Government Account utilizes Alliance Government Reserves (the “Fund”). THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
What is Federated Hermes government reserves fund?
GRFXX. Government/Treasury . Seeks current income consistent with stability of principal and liquidity by investing in a portfolio of U.S. Treasury and government securities maturing in 397 days or less and repurchase agreements collateralized fully by U.S. Treasury and government securities.
What is a government reserve fund?
Key Takeaways. A reserve fund is savings or a liquid asset set aside to cover unexpected costs or future financial obligations. Many governments, financial institutions, and individuals regularly set aside funds into accounts that earn interest.
Is Blackrock FDIC insured?
Although the Fund seeks to preserve your investment at $1.00 per share, you still may lose money. Your investment is not insured nor guaranteed by the Federal Deposit Insurance Corporation, bank or government agency. Refer to www.blackrock.com for current month-end performance.
What is Pershing base lending rate?
Margin Lending Rates
| Margin Lending Rates *Borrowing on margin requires a margin account | Rates – As of 6/30/2021 All rates are derived from Pershing Base Lending Rate. PBLR 6.13% |
|---|---|
| Loan Amount | Lending Rate |
| $0 – $9,999 | 6.13% + 1.25% = 7.38% |
| $10,000 – $29,999 | 6.13% + 0.75% =6.88% |
| $30,000 – $49,999 | 6.13%+ 0.50% = 6.63% |
What is Dreyfus insured deposit program?
The Dreyfus Insured Deposit Program is a bank deposit “sweep” program that can provide daily interest income and FDIC insurance on balances up to $2.5 million. The agency insures deposits and retirement accounts in member institutions up to $250,000 per depositor.
What is the treatment of reserve fund?
Reserves are the amount of profits, which is set aside until there is a need for money for some purpose. In terms of accounting, we refer to this as appropriation. The name of a reserve account indicates its purpose or use.
How much money should be in a condo reserve fund?
In general, funds need at least $2,000 per unit per year to avoid under funding. An average for a new building might be just $500 per unit per year while older buildings can be as much as $4,000. Other considerations for contributions include: The height of a condo tower.
What is BlackRock money market trust?
The investment objective of BlackRock Money Market Portfolio (the “Money Market Portfolio” or the “Fund”), a series of BlackRock Funds SM (the “Trust”), is to seek as high a level of current income as is consistent with maintaining liquidity and stability of principal. Fees and Expenses of the Fund.
What are liquid insured deposits?
Liquid Insured Deposits are obligations of the Program Banks in which the deposits are held and qualify for FDIC insurance protection per depositor in each recognized legal category of account ownership in accordance with the rules of the FDIC.
What is a Dreyfus account?
Dreyfus Cash Investment Strategies (CIS) is a leading institutional manager of money market strategies. We provide institutional investors and intermediaries with access to a broad array of domestic and offshore money market funds and cash investment solutions to help meet any cash management need.
What are the fees for a Pershing mutual fund?
For money funds supported on its sweep platform, Pershing receives remuneration paid out of the total operating expenses of the fund, some of which include SEC Rule 12b-1 fees.
How does introducing broker dealer work with Pershing funds?
If your introducing broker dealer selects a sweep product that pays Pershing remuneration, some of the fees Pershing receives from the money fund and bank deposit providers will be shared with your introducing broker dealer.
How much can you deposit in a Pershing account?
Once your balance reaches the current Program Deposit Limit of $2,490,000, Pershing, as your agent, will automatically sweep any additional free credit balance over that amount (“Excess Balance”) from your Account into the secondary sweep option selected by your IBD or your Investment Professional.
What’s the current yield on Pershing base lending?
Pershing Base Lending Rate – USD | Current Yield: 6.125% (These programs are no longer available to new clients.) An investment in a FDIC-Insured Deposits Program is not protected by Securities Investor Protection Corporation (SIPC).