Settlement Services
Settle Your Transactions Securely and Efficiently
Boost your bottom line and save staff time with our settlement services. We accept full settlement on your behalf, thereby freeing up liquidity available to your institution. Easily and efficiently manage settlement activity through our convenient web platform, Correspondent Bank Connection (CBC). To keep your institution competitive, we update our platform with the latest industry technologies like FedNow® Service and Swift GPI.
Our team is available during US banking hours across Eastern to Pacific time zones. And every time, you get direct access to a live person. We are here to support you anytime you need it!
Key Benefits:
- Offset banking fees through our earnings credit program
- Efficiently monitor and manage your settlement activities
- Generate interest income with investment options for excess balances
- Earn competitive market rates on overnight investments
- Ease regulatory concerns with Reg F and BSA compliance
- Ensure operational continuity using PCBB as a core or third party back-up
Settlement and Clearing Process
PCBB accepts full settlement via tri-party agreement.
Transactions are cleared to the Federal Reserve.
Debits/credits are passed to PCBB for settlement.
All balances are maintained and settled at PCBB.
Excess balances can be swept into an “As Agent” program or at the Fed as a risk-free option.
Settle Your Daily Transactions in a Cost-Effective Way
Streamline back-room operations. Monitor all account activity through CBC. PCBB assumes responsibility for all potential daylight overdrafts, thereby freeing up liquidity to your institution for wires.
PCBB’s settlement and international platform, CBC, far outweighs any of the other correspondent bank systems. It offers better functionality, timely and reliable information.
Correspondent Bank Connection (CBC) Platform Delivers
Secure platform for both wire transfers and settlement services
Step-by-step support for full confidence and total compliance
Backup contingency system for your institution
Competitive “As Agent” Program
Designed to help your institution minimize risk and streamline your process of selling overnight funds.
This includes passing excess liquidity to the Federal Reserve Bank “As Agent” for Excess Reserve Balances, thus providing a foundation to attract the best rate in either the Fed Fund market or balances held at the Federal Reserve on the respondent’s behalf.
Benefits:
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PCBB delivers over 25 years of investment expertise and success in the management of Fed Funds. |
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Reduce credit risk by redistributing funds among strongly capitalized banks. |
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Ensure quarterly monitoring of purchasing banks and compliance with Regulation F. |
PCBB is a Liquidity and Settlement Provider For The FedNow® Service
The FedNow Service allows financial institutions to send and receive instant payments 24/7, 365 days of the year. It modernizes the payment industry keeping up with customer demands for real-time payments.
We were selected to participate as a pilot bank in the FedNow Service. This opportunity allowed us to aid in the development of the service, and help facilitate its functionality and user experience for community financial institutions like yours.
Learn more about our participation in the FedNow® Service.
