We've refreshed our GL Reporting package with several enhancements to streamline your accounting workflows:

New Offsetting Accounts & Settlement Files GL reports now include new offsetting accounts to ensure balanced postings and to simplify ingestion into your accounting systems. Additionally, two month-end files will now be available to streamline your monthly settlement workflows: Settlement Postings and Cost Center Settlement Postings.

GL Code Configuration You can configure the GL codes for these new accounts, as well as an institution-level cost center ID through the Settings section of the Admin Portal—these identifiers will automatically populate in your GL Reports.

SFTP Access for All GL Reports All GL reports are now accessible via SFTP for automated retrieval, providing a streamlined approach to integrating program data into your institution's accounting systems.

Please reach out to your Regional Director with any questions or feedback.

FI Admins can now liquidate and close ISA accounts directly from the Admin Portal at any time, including mid-month. To close an account, navigate to the "Sweep Program" section of the Admin Portal and select "Close Account." From the dropdown, choose the account you wish to close. The current balance will be displayed for review. Once a closure is scheduled, the account will appear in the Closed Accounts table with timestamps reflecting when the closure was requested and when it is scheduled to close. A final statement will be available in your Documents tab and a confirmation email will be sent to your institution once the remaining balance and accrued interest have been returned in that day's settlement.

Reach out to your Regional Director with any questions or feedback.

We've enhanced the design of our monthly account statements with improved formatting and a more polished layout optimized for both digital and physical delivery. The updated header section now adapts more flexibly to your institution's settings, giving you the control you need while delivering an enhanced experience for your depositors.

Trial Balance Reports are now available in beta via the Admin Portal and SFTP. This daily report provides detailed data on your Insured Sweep Accounts in the NBID program, including account balances, interest and fee accruals, and account and depositor identifiers to support your bank's internal reconciliation and reporting workflows.

Reach out to your Regional Director with any questions or feedback.

We've expanded editing capabilities in the Admin Portal for NBID program administrators. You can now directly edit more Account and Depositor fields by clicking the pencil icon when hovering over accounts in the Accounts table, and access additional editable depositor fields through the Depositors table.

Cost Center GL Postings and Balances files are now available in beta, providing more granular optionality for your institution's accounting of the NBID program. These reports can be found in the Documents section of the Admin Portal, and you can add cost center identifiers to your Insured Sweep Accounts through the Change Account feature in the Sweep Program of the Admin Portal. We welcome your feedback to inform potential refinements to this report. Please reach out to your Regional Director with any questions or suggestions.

Get the latest product updates from NBID directly in your inbox by subscribing to our changelog. To subscribe to product changelog updates, any Institution, Program, or User Management Admins can go to Settings in the Admin Portal, enter your email under Subscribe to Product Changelog Updates, and click Subscribe. For more information, see here.

Dynamic Target Balance is now available in the Admin Portal, allowing you to automatically adjust your Target Balance for your Receive Program based on your sweep activity. Instead of setting a static target balance that requires manual updates, you can now define your target as a spread (positive, zero, or negative) relative to your sweep balance. This eliminates the need to continuously monitor and adjust your target balance as customer activity causes your sweep balance to fluctuate, while maintaining your desired net-sourcing, exact reciprocation, or net-sweeping position. Your target receive balance will update in real-time alongside sweep activity, reducing operational burden and ensuring your balances remain aligned with your balance sheet strategy. For more information, see here.

The Account-Level Reciprocation feature enables financial institutions to gain granular visibility into and control over how reciprocal balances are attributed across individual Insured Sweep Accounts. Institutions can prioritize specific accounts for reciprocal classification or rely on automatic determination based on balance levels from lowest to highest, with clear identification of which accounts are currently reciprocated. This capability delivers significant benefits to clients by supporting more detailed reporting of network activity for account- and branch-level attribution, facilitating compliance with regulatory obligations, and empowering institutions to strategically manage their reciprocal relationships with greater precision and transparency that aligns with their operational needs. For more information, see here.

Banks can now assign Ownership Categories to their customers on the Admin Portal, enabling more granular tracking of depositors in the NBID Network. Admins can assign an Ownership Category during Account Opening and can edit or add them to existing customers through the Depositors table.