NetInfo - CIBC Mellon
NetInfo?
Global - Quarter End Balances
Category NetInfo? 11-digit Custody Account - BNY Mellon Broadcast, Product Offering Impact NetInfo? 11-digit Custody Account - Global
Important notice re quarter end balances.
Please find below notice of our updated policy with respect to cash account balances that are held with any of the BNY Mellon entities listed below at the end of each calendar quarter.
If the end of day cash balance on any of your accounts on the last business day of a calendar quarter exceeds the average cash balance of the prior calendar quarter, BNY Mellon will apply an excess balance charge in the following month.
The charge will be 1% per annum of the excess cash balance (subject to market conditions for the currency to
which the charge is applied, which we will discuss with you where applicable).
The excess cash balance charge applies to excess long cash balances held by you with BNY Mellon during
the "Relevant Dates." For the purpose of this letter, a Relevant Date is the last banking day of a calendar quarter and each subsequent day that is not a banking day, each as specified in the table below.
This updated policy will apply to any excess long cash balances held by you with a BNY Mellon entity with effect from (and including) the first of the Relevant Dates specified below.
Relevant Dates - 2016/17
Relevant Date - 2018
December 30?January 2 (4 days) March 31-April 2 (3 days) June 30?July 2 (3 days) September 29?Oct 1 (3 days) December 29?January 1 (4 days)
March 30?April 1 (3 days) June 29?July 1 (3 days) September 28?September 30 (3 days) December 31?January 1 (2 days)
We will separately notify you of days beyond 2018 that will constitute Relevant Dates for the purposes of this policy. When determining excess cash balances BNY Mellon will not:
apply a cross currency approach, or
allow the set off of overdrafts or debit balances unless specifically
This policy applies to cash balances held in accounts at the following BNY Mellon entities:
The Bank of New York Mellon, London Branch The Bank of New York Mellon, Brussels Branch The Bank of New York Mellon, Frankfurt Branch The Bank of New York Mellon SA/NV (Amsterdam, Brussels, Dublin, Frankfurt, London and Luxembourg
Branches)
The Bank of New York Mellon (International) Limited (London and Luxembourg Branches) The Bank of New York Mellon (Luxembourg) SA (including Milan Branch)
BNY Mellon will provide notice to you of any amendments to this policy. The application of this policy is also subject to any applicable law or regulation and any specific contractual arrangement that BNY Mellon may have with you relating to the treatment of your cash balances.
Please contact your relationship executive to discuss what would constitute an excess balance and any alternative arrangements for excess balances, such as the use of Money Market Funds or other short term securities.
Transmitted on December 2, 2016.
If you have any questions about this NetInfo?, please contact your Relationship Executive or Account Manager.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used as a generic term to reference the corporation as a whole and/or its various subsidiaries generally. This material and any products and services may be issued or provided under various brand names in various countries by duly authorised and regulated subsidiaries, affiliates, and joint ventures of BNY Mellon. Not all products and services are offered in all countries. This material may not be comprehensive or up-to-date and there is no undertaking as to the accuracy, timeliness, completeness or fitness for a particular purpose of information given. BNY Mellon will not be responsible for updating any information contained within this material and opinions and information contained herein are subject to change without notice. BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material. This material may not be reproduced or disseminated in any form without the prior written permission of BNY Mellon. Trademarks, logos and other intellectual property marks belong to their respective owners. NetInfo? is a Registered Service Mark of The Bank of New York Mellon. ? 2016 The Bank of New York Mellon Corporation. All rights reserved. You can update your NetInfo? preferences, including to unsubscribe, on Workbench/INFORM at any time. Corporate Headquarters: 225 Liberty Street New York, NY 10286,
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