Repurchase Agreements are any investments over $10,000 secured by Treasury Securities. Repurchase Agreements are money market investments which allow
businesses to purchase part of the bank's investment portfolio for the purpose of short-term investing. They have greater flexibility than Certificates of Deposit because Repurchase Agreements have no early withdrawal penalty. Maturities are available up to 89 days at which time principal and interest are paid. A minimum deposit of $10,000 is required. Repurchase agreements are not FDIC insured.
Treasury Securities are issued by the U.S. Government in denominations of $10,000 to $1,000,000. Treasury bills are available in maturities up to one year while Treasury notes are available in maturities for 2, 3, 4, and 5 years. Treasuries are exempt from state and local taxes, but not federal.
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Consumer Banking