Specifications include, but are not limited to: 1. Open and maintain a demand deposit account for the Treasurer (“Demand Deposit Account”) in which all electronic transfers will be deposited; 2. Open and maintain an interest-bearing account (s) in the name of the Treasurer (“Investment Account(s) for the funds received in the Demand Deposit Account; 3. Accept and process instructions from the Treasurer to transfer funds from the Investment Account to the Demand Deposit Account; 4. Accept incoming wire transfers; 5. Accept outgoing wire transfers initiated by the Treasurer. 6. Accept National Automated Clearing House Association (“NACHA” or “ACH”) credits; 7. Accept ACH debits based on specific company IDs; 8. Invest end of day collected balances for the Demand Deposit Account. Provide ongoing information on all available sweep options, including any maximum or minimum dollar amount requirements. Money market sweep funds shall be included as an option, and prospectuses shall be provided where applicable; 9. If sweep options are not selected or if there are limit requirements for maximum allowable sweep balances, ensure collateralization of end of day collected balances, above the Federal Deposit Insurance Corporation (“FDIC”) insurance and sweep limits, through a pledge of securities in compliance with Sections 11 and 11.1 ofthe Deposit of State Moneys Act (15 ILCS 520); 10. Pledge securities, if applicable, equal to 102% of the market value of the largest total balance the Treasurer maintains in both the Demand Deposit and Investment Accounts with the Contractor, less the insurance amount provided by the FDIC...
