Institutional Deposits Services
BOC U.S.A. offers a range of account services for eligible Financial Institutions providing a flexible and convenient way to maintain and access funds.
BOC U.S.A. offers U.S. Dollar (USD) and RMB Vostro account services to all eligible Financial Institutions1. Products include Demand Deposit Accounts (DDA) that are non-interest bearing accounts, providing a flexible and convenient way to maintain and access funds on demand. Sweep Accounts are full automated, sweeping idle balances overnight. The account can be denominated in USD and CNH. BOC U.S.A. also offers institutions time deposit services.
BOC U.S.A. is a member of the CDARS and ICS Networks. We offer innovative solutions for banks, brokerage firms, and other cash stewards through both CDARS (Certificate of Deposit Account Registry Service) and ICSs (Insured Cash Sweep).
1Eligible Financial Institutions
Financial Institutions that hold accounts with BOC U.S.A’s New York branch