Hello All,

Reading the FAQs is doesnt appear to be any model notice or required content for the sweep notice under 330.16(c)(3). Has anyone put anything together that they would be willing to share? I guess i am not sure how complex or simple this notice should be?

Thanks for any input.

I put this notice on all our non-interest bearing checking accounts.

This account is fully insured by the Federal Deposit Insurance Corporation until December 31, 2012 by the Dodd-Frank Act. Funds transferred from this account to an interest-bearing checking, savings, money market or repurchase account no longer receive unlimited FDIC insurance coverage. Interest-bearing checking, savings and money market accounts are insured under the general deposit insurance rules, which provide at least $250,000 in deposit insurance to depositors. A repurchase account is not considered a deposit account and does not qualify for deposit insurance. Repurchase account owners are considered secured creditors of the bank.