SAFEKEEPING

Get a securities safekeeping solution that is convenient, cost-effective, secure, and reliable. As an experienced partner that manages around $7.1 billion in assets for community banks, BBW can provide the resources and expertise you need.

Important update T+1 Settlement

Important update T+1 Settlement

T+1 Settlement for Bond Trades: What Bond Buyers Need to Know

A brief overview of the new requirement and its implications for bond market participants

Starting May 28, 2024, the Securities and Exchange Commission is shortening the settlement cycle on bond markets from the current two business day period (T+2) to one business day (T+1).

This requirement brings important new operational changes. Most important is performance of the affirmation on the date the security is purchased from the broker / dealer.  This will require participation by the investor, safekeeping agent (such as Bankers’ Bank of the West), and broker / dealer to affirm the trade in the shorter period.

Key Benefits

+ Easy trade settlement process

+ Payments reconciled before distribution to ensure accuracy

+ Principal and interest payments automatically credited to your DDA early in the morning (detail report available)

+ 24/7 access to reports and receipts for customers that use BRIDGE (call notices sent by email)

+ Very competitive pricing (fees charged on analysis)

+ Above-and-beyond personal service, including prompt support for research requests.

Our Services

  • Protection

    Protection of securities deposited with BBW. Direct inquirer services with lost and stolen securities program

  • Receipts

    Safekeeping receipts issued for each security received/pledged and retention of safekeeping reports.

  • Notification

    Ten-day advance notification of maturing securities and timely notification of called securities and other activity.

  • Pledging

    Third-party pledging to Federal Home Loan Bank of Topeka available, and pledging of securities to your public entities.

  • Portfolio Statements

    Portfolio statements and pledge reports (available at end of month or upon request)

  • Audit and Retention reports

    Audit confirmations provided at no cost, as well as retention of safekeeping reports

Click to view our Safekeeping sheet

Karen Milano
AVP - Safekeeping

In September 2008, Karen started her first role with Bankers’ Bank of the West. Today, in the role of AVP, Safekeeping, Karen is primarily responsible for providing safekeeping services for BBW’s bank customer bond portfolios.

She has continually advanced in many financial roles throughout her banking career that started since 1990. Starting as a teller and over time, gained experience as a customer service rep, loan closer, loan operations specialist and manager, as well as in the areas of safekeeping, finance and risk. Karen completed Community Bank Investments School, a program of the Graduate School of Banking at Colorado, in 2019.

She is excited to eager to help you with your safekeeping interests and looks forward to hearing from you!