Program Omnibus Account

The program omnibus account is an account set up during onboarding that will serve as the main account to facilitate funds for the NBID program. It is a standard demand deposit account established at your bank in our custodian's name. It acts as the single program account through which all Insured Sweep Account funds are managed and moved.

The program account streamlines money movement and reduces operational complexity for your bank. It also allows you to receive deposits from the network from other participating banks. To open the account, please refer below for NBID's custodian, Northern Trust's, account information and relevant documents.

Opening a Program Omnibus Account

A singular program account should be opened in Northern Trust's name with the below details. Northern Trust's Certificate of Incorporation can be found here, and Northern Trust's Corporate Resolution (signature card) can be found here.

• Title: The Northern Trust Company, acting as custodial agent for the exclusive benefit of its customers, which may be acting for the benefit of others
• Business Name: Northern Trust Corporation
• EIN: 36-1561860
• Physical Address: 50 La Salle Street, Chicago, IL 60603
• Mailing Address: 50 La Salle Street, Chicago, IL 60603
• Email: [email protected]
• Phone Number: 312-557-3187