CDARS - Promontory Interfinancial Network

CDARS®, the Certificate of Deposit Account Registry Service®

Promontory Interfinancial Network, LLC ("Promontory") provides smart, innovative solutions that enhance the profitability of banks and other financial institutions. By using Promontory's CDARS, Insured Cash Sweep®,  IND®, and Bank Assetpoint® services, financial institutions can build profitable, million-dollar relationships; manage their balance sheets; purchase cost-effective funding; and sell or buy bank assets.

With CDARS, banks that are members of the Promontory Network can offer each of their customers access to multi-million-dollar FDIC insurance and keep the full amount of these deposits on balance sheet or, with the depositor’s consent, sell the funding for fee income.

When a Promontory Network member places a customer's deposit using the CDARS service, the deposit is divided into amounts under the standard FDIC insurance maximum and placed with Network member banks in exchange for CDs. This makes the full amount placed eligible for FDIC coverage. In return, the originating institution receives either matching deposits or fee income, depending on its balance sheet management needs. Each originating institution sets the interest rate it pays and maintains complete ownership of its customer relationships. And the customer receives one monthly account statement from the relationship bank.

Alternatively, CDARS provides Promontory Network members with the ability to purchase an originating institution’s excess deposits. This funding is available without collateralization or stock purchase requirements.

Market Profile
CDARS is offered in all 50 states, the District of Columbia, Puerto Rico, and Guam. Approximately 3,000 financial institutions are members of the Promontory Network.​​​​​​​​​​​​​​​​​


 Program Benefits

CDARS helps banks to attract large-dollar relationships, replace higher-cost funding by offering customers access to multi-million-dollar FDIC insurance on CDs, and keep the full amount of the deposits on balance sheet or sell the funding. CDARS gives Promontory Network members the opportunity to serve as the one institution that meets all their customers’ needs. Using CDARS, depositors can enjoy:​​​​
  • Safety – Depositors can access multi-million-dollar FDIC insurance coverage.
  • Convenience – With CDARS, depositors manage one bank relationship, earn one rate per maturity on their investment, and receive one regular account statement, eliminating the need for multiple rate negotiations and manual consolidation of account statements. By providing access to multi-million-dollar FDIC insurance, CDARS can eliminate the need for collateralization on an ongoing basis, thereby providing financial institutions with more flexibility to manage their investment portfolios. Thus, depositors and their banks can decrease administrative tracking burdens,​​ like tracking changing collateral values on an ongoing basis. Customers can also benefit from receiving only one 1099 at year end.
  • Community Investment – Under certain circumstances, the full amount of a bank customer’s deposit can support lending opportunities that strengthen the local community. This can be an important selling point for some depositors.

Learn more about CDARS.

Use of the CDARS service is subject to the terms, conditions, and disclosures set forth in the CDARS agreements, including the CDARS Participating Institution Agreement and the CDARS Deposit Placement Agreement. Limits apply. CDARS, Certificate of Deposit Account Registry Service, Insured Cash Sweep, IND, and Bank Assetpoint are registered service marks of Promontory Interfinancial Network, LLC.


Questions? Please contact Jackie Lucas for more information.



​"We love that ICS gives us options: we can either attract deposits and sell the excess to other banks through One-Way Sell, or purchase funding through One-Way Buy. This is especially helpful in today’s regulatory environment. "

– Gray Flora, CFO, BankFirst,
Macon, MS 

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 Program Contacts


Robin Gordon, Tel: (202) 663-5128
Promontory Interfinancial Network, LLC
1300 N. 17th Street, Suite 1800
Arlington, VA 22209​
Contact: Steve Kinner
Tel: (703) 292-3445
Toll Free: (866) 776-6426
Web Site:

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