In the News

R&T Deposit Solutions (R&T®) and Total Bank Solutions® (TBS) Announces they have Increased the FDIC Insurance Coverage Level Accessible Through DDM® to $50MM

NEW YORK (February 15, 2023) – Today, R&T Deposit Solutions/Total Bank Solutions (“R&T/TBS”), a leading provider of innovative cash sweep, deposit funding, and securities-based lending programs, announced they have increased access to FDIC insurance coverage on deposits under the Demand Deposit Marketplace® Program (DDM®) to $50MM, up from $30MM when the companies merged in June of last year.

“We are thrilled to have reached this significant milestone, achieving another one of our stated goals.” explains Joseph Jerkovich, President of R&T/TBS. “The ability to leverage our combined network of banks to offer our clients and their customers access to significantly higher levels of FDIC insurance coverage is a direct benefit of R&T’s merger with TBS.”

The DDM® program is a comprehensive, automated, daily cash management solution that enables banks and other financial institutions to offer their customers access to expanded levels of FDIC insurance coverage on their funds placed at a network of participating institutions. Participating banks also benefit from the flexibility the DDM® program provides, allowing banks to receive deposits from other participating banks when funds are needed, to send excess deposit balances into the network to be placed at other participating banks, or to both send and receive deposits by entering into a ‘reciprocal’ transaction with other participating banks– all through the same service and providing potential yields and other benefits competitive with other sweep options.

“With an ever-changing interest rate, market and regulatory environment, it is important that we stand ready to serve our clients as they adapt their business.” Says Kevin Bannerton, Executive Vice President, and Head of Wealth Management at R&T/TBS. “The landscape for deposit funding has changed dramatically over the past year, impacting both the supply and demand side of the market. In this type of environment, banks value solutions that allow them to adjust dynamically as their needs change and cash investors seek the security of expanded FDIC insurance coverage and the opportunity to earn competitive rates on their excess cash”

To learn more about the full range of services offer by R&T Deposit Networks, please visit our website at

About Us

R&T Deposit Solutions and Total Bank Solutions successfully completed their planned business combination in June 2022. The combined firm provides banks, credit unions, wealth managers and trust institutions with a larger selection of products and services, designed to meet their unique cash sweep, deposit funding and securities-based lending needs. R&T/TBS have total assets under administration of more than $220 billion, and 128 experienced professionals. The company provides services to more than 300 banks and credit unions, over 100 wealth managers and trust institutions, including approximately 20 unique broker-dealer sweep programs. The firm has a long track record of providing superior client service and developing solutions that enhance their respective clients’ experience and deliver value to their underlying customers.

Teresa Murphy, VP Marketing
R&T Deposit Solutions, LLC

Copyright © 2023. All rights reserved. Reich & Tang Deposit Networks, LLC, Reich & Tang Deposit Solutions, LLC, Stable Custody Group II LLC,  Total Financial Solutions, LLC (d/b/a Total Bank Solutions) and/or any of their affiliates (together, “us”, “we”) provide administrative and/or recordkeeping services to participating financial institutions with respect to sweep and other programs we administer, including Demand Deposit Marketplace (DDM®), Reich & Tang Insured Deposits (RTID®) and Total Bank Solutions® Insured Deposit Program (IDP), as well as other services. We are not a depository, bank or credit union and the sweep and other programs we administer are NOT, themselves, FDIC-insured or NCUSIF-insured products.  Rather, under the programs, funds are swept or placed in accounts at receiving institutions that are FDIC and/or NCUSIF insured, subject to program limits.  Click here for a list of the banks and savings associations with which we have a business relationship for the placement of deposits under the programs we administer, and into which a participating institution may place deposits (subject to the terms of those programs and any opt-outs by the participating institution and/or their customers).  FDIC and NCUSIF insurance coverage is only available to protect a depositor against the failure of a participating FDIC or NCUSIF insured institution that holds the depositor’s funds  (and not to protect against the failure of any other party, including us). The services we provide with respect to the programs administered by us are primarily designed to provide administrative convenience for our financial institution clients to offer expanded FDIC or NCUSIF insurance on customer funds, and are not designed to provide customers with investment enhancements, or higher rates of returns or profits on their funds.  All of our services are provided subject to the terms and conditions of the written agreements entered into by us with respect thereto, and we provide no representations or warranties, express or implied, except as expressly set forth in those agreements.