Categories: Treasury

SWEEP AGREEMENTS

Sweep agreements are contractual agreements between institutions and their customers that allow funds to be automatically transferred to another account at the same institution, another institution, or into a financial instrument. When funds of U.S. nonbank residents are swept to a non-U.S. office of a B reporter, the B reporter should report the funds held at the non-U.S. office on the BQ-1.

SEC

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