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Announcing a Strategic Investment from GTCR and Appointment of Susan Cosgrove

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 * Our Solutions
   * Demand Deposit Marketplace® Program (DDM®)
   * R&T Insured Deposits (RTID®)
   * Securities-Based Loan Management System (LMS)
   * Funding Solutions
 * Who We Serve
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LEGAL DISCLOSURE

Legal Disclosures

(Last Modified: May 22, 2023)

R&T Deposit Solutions’ Services

Reich & Tang Deposit Networks, LLC, Reich & Tang Deposit Solutions, LLC, Stable
Custody Group II LLC, Total Deposit Solutions, LLC (each, d/b/a R&T Deposit
Solutions, and each a Delaware limited liability company) and their affiliates
(together, “R&T”, “us” or “we”) provide administrative and/or recordkeeping
services to banks, credit unions, trust companies, wealth management firms,
broker-dealers and other financial institutions with respect to sweep and other
programs we administer, including the Demand Deposit Marketplace® (“DDM®”)
program and the Reich & Tang Insured Deposits (“RTID®”) program.  R&T also
provides other services, including a Loan Management System (“LMS”) service and
the R&T Bank Monitor service.  All of our services are provided subject to the
terms and conditions of the written agreements entered into between us and our
client with respect to the service, and we provide no representations or
warranties, express or implied, except as expressly set forth in those
agreements.

R&T provides services to clients that are banks, broker-dealers, credit unions,
wealth management firms and other financial or commercial institutions that
enter into a written agreement with R&T for those services (“Clients”). R&T does
not offer or provide products, programs or services to consumers or to our
Client’s customers (“Customers”).  The services offered by R&T are only
available to Clients that are residents of the United States of America.
References to programs administered by R&T or to R&T’s services on our public
website (at www.rnt.com) or in marketing or other materials should not be
considered a solicitation to buy products or services or an offer to sell
products or services to any person. Eligibility for certain programs and
services may vary. These Legal Disclosures do not take the place of any legally
required disclosures for any programs administered by R&T that are offered by
our Clients to its Customers

The DDM and RTID Programs

R&T provides administrative and/or recordkeeping services with respect to the
DDM and RTID programs, subject to R&T’s written terms, agreements and
disclosures relating to those programs.  References in this document to RTID
also includes the Insured Deposit Program (“IDP”) administered by Total Deposit
Solutions, LLC (d/b/a R&T Deposit Solutions).

Under the DDM and RTID programs, a participating financial institution
(“participating institution”) can sweep or place its (and/or its customers’)
funds into deposit accounts at receiving banks, credit unions and/or other
receiving financial institutions that are insured by the Federal Deposit
Insurance Corporation (“FDIC”) or National Credit Union Share Insurance Fund
(“NCUSIF”) for up to the current standard maximum deposit insurance amount
(“SMDIA”) (currently, $250,000) per eligible depositor, per receiving
institution, for each ownership capacity or category, including any other
balances the depositor may hold at that receiving institution directly or
indirectly through other intermediaries, including broker-dealers.  By placing
funds in deposit accounts at multiple receiving institutions, the DDM and RTID
programs we administer can provide a participating institution (and its
customers) with access to expanded levels of FDIC and/or NCUSIF insurance on
their funds.  A participating institution (and its customers) can ‘opt-out’ of
placing funds at a particular receiving institution (subject to program terms
and limitations).  If a depositor holds any funds at a receiving institution
outside of the DDM or RTID program, when combined with their deposits held at
that receiving institution through the DDM or RTID program, the total amount of
deposits of that depositor held at that receiving institution could exceed the
SMDIA for an ownership capacity or category, and those excess funds will not be
FDIC or NCUSIF-insured.  Click here for a list of the banks and savings
associations with which R&T has a business relationship for the placement of
deposits under the DDM and RTID programs, and into which a participating
institution may place deposits (subject to the terms of those programs and any
opt-outs by the participating institution and/or its customers). 

R&T is NOT a depository, bank or credit union and the DDM and RTID programs we
administer are NOT, themselves, FDIC-insured or NCUSIF-insured products.  FDIC
and NCUSIF insurance coverage is ONLY available to protect a depositor against
the failure of a participating receiving FDIC or NCUSIF-insured institution that
holds the depositor’s funds at the time of failure (and, then, only up to the
SMDIA per eligible depositor, per such institution, for each ownership capacity
or category).   FDIC and NCUSIF insurance coverage does NOT protect a depositor
against the failure of R&T or any other party.  

R&T does not offer or provide the DDM or RTID program directly to customers of
our financial institution clients that sweep or place funds into those
programs.  Instead, our financial institution client offers a particular program
to its customers (and R&T administers the program for the financial
institution).  Accordingly, before a financial institution’s customer places any
funds into a program administered by R&T, the customer should carefully read
their financial institution’s particular program terms and conditions or
agreements for important disclosures, terms, conditions, risks, customer
eligibility requirements, limitations and other information relating thereto.  A
financial institution’s customer should contact their financial institution to
receive the list of banks and other institutions into which that customers’
funds may be placed pursuant to the particular program offered to them by their
financial institution.  A customer’s access to expanded levels of FDIC or NCUSIF
insurance on funds placed through such a program is generally based on the
number of receiving banks or institutions in the particular program offered to
them by their financial institution. Such customers should regularly review
their financial institution’s list of receiving program institutions and
immediately notify their financial institution if they want to ‘opt-out’ of a
particular institution so that their funds are not placed at that institution.

We provide recordkeeping and/or administrative services with respect to cash
sweep and placement programs that we administer (e.g., the DDM and RTID
programs). While customer rates obtained on funds placed into those programs
may, under certain circumstances, outperform cash alternatives, such as money
market funds, the primary objective of our services is to provide customers with
convenient access to expanded FDIC and/or NCUSIF insurance coverage on their
funds (and not for investment enhancements, or higher rates of returns or
profits If a participating institution (or its customer) is subject to any
restrictions or requirements on the placement or deposit of their funds, that
depositor is solely responsible for determining whether its use of the DDM or
RTID program satisfies those restrictions and requirements.

Loan Management System (LMS)

R&T provides the loan management system (“LMS”) service, subject to its written
terms, agreements and disclosures relating to that service.  Under this service,
(i) R&T licenses to a lender the ability to use R&T’ Loan Management System –
composed of a Loan Origination Module (“LOM”), a Loan Underwriting Module
(“LUM”), and a Collateral Monitoring Module (“CMM”) – to extend and monitor
securities-based lines of credit (“SBLOCs”) that are custodied by a financial
institution at which an underlying customer holds a securities account and (ii)
R&T licenses to the financial institution with which the customer has its
relationship (which may be the broker-dealer or trust company that acts as
custodian or an investment advisor) the ability to use the LOM to facilitate a
customer’s completion of an SBL application to the lender, which is stored and
transmitted using the LMS.   Under the LMS service, the lender also can use the
LUM to underwrite the loan using its own credit criteria entered into the LUM,
and the CMM to obtain the value of the customer’s pledged securities at the time
the SBLOC application is underwritten and for monitoring the continued
conformance to loan value standards established by the lender. The lender,
financial institution and customer are solely responsible with respect to the
underlying loan and securities transactions for which the LMS is used, and R&T
has no liability or responsibility with respect thereto. 

R&T Bank Monitor

R&T provides the R&T Bank Monitor service, subject to its written terms,
agreements and disclosures relating to that service.  The R&T Bank Monitor
service, clients subscribe to the service, which uses publicly available
information to calculate and report safety and soundness metrics of active
FDIC-insured depository institutions.

R&T’s Public Website

R&T’s public website, located at ww.rnt.com, is offered, and may only be
accessed and used, subject to the Website Terms of Use and our Privacy Policy as
those document are posted on that website from time to time.

Client & Customer-Only Sites

R&T may permit access to website portals or platforms by its clients (e.g.,
banks, broker-dealers, credit union, wealth management firms or other financial
institutions that enter into a written agreement with R&T) (“Clients”). In
addition, R&T may permit access to website portals or platforms by customers of
R&T’s Clients (“Customers”).  Such portals or platforms are referred to as the
“Client & Customer-Only Sites”.

With respect to our Clients, the Client & Customer-Only Sites are governed by
(i) the applicable written agreement entered into between R&T and the Client
with respect to services provided by R&T to our Client, (ii) if applicable, the
Terms of Use (for Client & Customer-Only Sites) and (iii) our Terms of Use.  In
the event of any inconsistency between the terms and conditions of such
documents, the order of precedence of those terms shall be (i), (ii) and (iii). 

With respect to our Client’s Customers, the Client & Customer-Only Sites are
governed by (i) if applicable, the Terms of Use (for Client & Customer-Only
Sites) and (ii) our Terms of Use. In the event of any inconsistency between the
terms and conditions of such documents, the order of precedence of those terms
shall be (i) and (ii). 

No Legal, Investment or Other Professional Advice

R&T does not offer or provide, and nothing (including on our public website at
www.rnt.com) shall be construed as R&T providing, any tax, accounting,
investment, legal or other professional advice or recommendation. Also, nothing
shall be construed as being an offer to sell or a solicitation of an offer to
buy any security.  Without limiting the foregoing, R&T does not offer or provide
any professional or investment advice or recommendation regarding the nature,
potential value, or suitability of any particular program, product, service,
transaction, investment strategy, or other course of action by a person,
including any Client or Customer.  Prior to the execution of any transaction
involving information received from or through R&T (including on R&T’s public
website at www.rnt.com), the person should consult its financial, business, tax
and accounting advisors and/or attorney with respect to the price, suitability,
value, risk or other aspects of any program administered by R&T or any product
or service provided by R&T.

Forward Looking Statements

Certain information on in marketing or other materials (including on R&T’s
public website at www.rnt.com) or on the Client & Customer-Only Sites) may
contain certain forward-looking statements, which are subject to risks and
uncertainties and speak only as of the date on which they are made. The words
“believe,” “expect,” “anticipate,” “optimistic,” “intend,” “aim,” “will” or
similar expressions are intended to identify forward-looking statements. You are
cautioned not to place undue reliance on these forward-looking statements. Any
dated information is published as of its date only. Dated and forward-looking
statements speak only as of the date on which they are made. We undertake no
obligation to update or revise any dated or forward-looking statements.

R&T’s Marks

R&T®, Reich & Tang®, Demand Deposit Marketplace®, DDM®, DepositView® and RTID®
 are registered marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit
Solutions). Total Bank Solutions®, TBS Verify®  and TBS Bank Monitor® are
registered marks of Total Deposit Solutions, LLC (d/b/a R&T Deposit Solutions).
RNTSSM, Certificate of Deposit MarketplaceSM, R&T FusionSM and Fusion by R&TSM
are pending marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit
Solutions). IDEASM is an unregistered service mark of Reich & Tang Deposit
Networks, LLC (d/b/a R&T Deposit Solutions).

Changes to Legal Disclosures

We may change or replace these Legal Disclosures from time to time in our sole
discretion. All changes are effective immediately when we post or provide them,
and apply thereafter.

Any Questions?

If you have any questions regarding these Legal Disclosures, please email us at
info@rnt.com  or at:  Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit
Solutions), 1370 Broadway, 17th Floor, New York, NY 10018, Attention: Executive
Vice President, General Counsel. Copyright © 2023  Reich & Tang Deposit
Networks, LLC (d/b/a R&T Deposit Solutions).  All rights reserved.

--------------------------------------------------------------------------------

 * 1-866-237-2752
 * info@rnt.com
 * 1370 Broadway, 17th Floor
   New York, NY 10018-7302

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 * Our Solutions
   * Demand Deposit Marketplace® Program (DDM®)
   * R&T Insured Deposits (RTID®)
   * Securities-Based Loan Management System (LMS)
   * Funding Solutions
 * Who We Serve
   * Depository Institutions
   * Wealth Managers
 * About R&T
   * Why R&T
   * Testimonials
   * Our Team
   * Bank Lists
 * Resources
   * News & Insights
   * Fact Sheets
   * Videos & Podcasts
   * Webinars
   * Case Studies
   * Brochures

Reich & Tang Deposit Networks, LLC, Reich & Tang Deposit Solutions, LLC, Stable
Custody Group II LLC and Total Deposits Solutions, LLC (each, d/b/a R&T Deposit
Solutions, and each a Delaware limited liability company) and/or their
affiliates (together, “R&T”, “us” or “we”) provide administrative and/or
recordkeeping services to banks, credit unions, trust companies, wealth
management firms, broker- dealers and other financial institutions with respect
to sweep and other programs we administer, including the Demand Deposit
Marketplace ® (“DDM ® ”) and Reich & Tang Insured Deposits (“RTID ® ”) programs.
R&T also provides other services, including the Loan Management System (“LMS”)
and R&T Bank Monitor services. All of our services are provided subject to the
terms and conditions of the written agreements entered into between us and our
client with respect to the service, and we provide no representations or
warranties, express or implied, except as expressly set forth in those
agreements. Click here for legal and other disclosures. Click here for a list of
the banks and savings associations with which R&T has a business relationship
for the placement of deposits under the programs we administer, and into which a
participating institution may place deposits (subject to the terms of those
programs and any opt-outs by the participating institution and/or its
customers). R&T is NOT a depository, bank or credit union and the programs we
administer are NOT, themselves, FDIC-insured or NCUSIF-insured products. R&T®,
Reich & Tang®, Demand Deposit Marketplace®, DDM ®, DepositView® and RTID ® are
registered marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit
Solutions). Total Bank Solutions ®, TBS Verify ® and TBS Bank Monitor ® are
registered marks of Total Deposit Solutions, LLC (d/b/a R&T Deposit Solutions).
RNTSSM, Certificate of Deposit MarketplaceSM, R&T FusionSM and Fusion by R&TSM
are pending marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit
Solutions). IDEASM is an unregistered service mark of Reich & Tang Deposit
Networks, LLC (d/b/a R&T Deposit Solutions).

© 2023 Reich & Tang Deposit Networks, LLC

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