Liquidity and Account Solutions

When your First Republic liquidity products and accounts are integrated into our Liquidity Solutions offering, you’ll have access to an efficient and centralized view of daily deposit and investment account information through a customized listing of near real-time data.

You’ll be able to sort and view your balance and transaction details by user-defined groupings that include legal entities, location, currency and banks—and balance values can be displayed in the functional currency of your choice. Applicable accounts include checking accounts enabled for Treasury Services, third-party accounts, Sweeps, Savings/MMDAs, off-balance sheet money market mutual funds and more.

You’ll receive details that are specific to your liquidity products that will highlight key differences and any actions you need to take.

Solutions

Agent Deposit Accounts (ADAC)

In May, we converted the First Republic accounts you’ve opened on behalf of your customers, as their Agent, to our Agent Deposit Accounts (ADAC) offering. The products are similar—ADACs will allow you to continue managing third-party money. Your account numbers will not change, and most treasury services will be available.

Deposit Account Control Agreements / Blocked Account Control Agreements

First Republic will continue to service your Deposit Account Control Agreement (DACA) until your account transitions to JPMorganChase and is supported by our Blocked Account Control Agreement (BACA) team, unless you have been notified otherwise.

Employee Retirement Income Security Act

In May, we integrated your account(s) for pension and profit-sharing to our Employee Retirement Income Security Act (ERISA) solution. This specialty account will allow you to continue managing funds for your pension and profit-sharing plans. ERISA is a regulated product and, although most treasury services are available, there may be certain regulatory restrictions.

Interest on Lawyer Trust Accounts (IOLTA)

Your Interest on Lawyer Trust Account(s) or IOLTAs at First Republic have transition to JPMorganChase in May. We’ll continue to forward the interest accumulated on your account to your state Bar Association. If you open a new IOLTA at JPMorganChase, you’ll need to provide a state registration form. IOLTA is a highly regulated product, and, although most treasury services are available, there may be certain regulatory restrictions.

Physical Cash Concentration

When we integrated your First Republic accounts in May, your Zero Balance Account(s) will transition to Physical Cash Concentration Account(s) at JPMorganChase. The structure of your account(s) has not changed; we’ve enabled the automatic consolidation of cash for enhanced efficiency as well as increased visibility and control of liquidity allowing you to seamlessly move funds across the globe on the same day. If your account is overdrawn, a fee may be charged.*

Political Committee Accounts

In May, we transitioned your First Republic political action committee account to our Political Committee Account (PCA) at JPMorganChase, which has certain restrictions that do not allow accounts to be opened for political committees that are:

Individual candidate committees
Party committees
Other political committees not sponsored by a client

Following the integration, we’ll review your account and let you know if any additional information or action is required. You’ll need to make sure you have a separate Employer Identification Number (EIN) for your PCA.

Segregated Deposit Accounts (SDA)

In May, we integrated your Multi-Client Management Account(s) to a Segregated Deposit Account(s) at JPMorganChase. Called SDAs, these structured accounts will allow you to open sub-accounts to manage funds on behalf of your clients. An active primary account is needed to maintain an SDA. If your primary account becomes inactive, the associated sub-accounts will be closed, and you’ll receive a check(s) to distribute to your sub-account holder(s).

Following the integration of your accounts, you’ll be able to access your SDA through our self-service tool, the Electronic Specialty Account Portal (ESAP) within J.P. Morgan Access, where you can open and close accounts, edit sub-accounts, move funds and more. In the coming weeks, we’ll share details about the features of this tool—and how to access it.

J.P. Morgan Money Market Funds

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Action required*

To make sure your accounts are ready for sweeps immediately following the integration weekend, please sign and submit the General Account Terms, disclosures and Physical Cash Concentration Service Terms that we sent you earlier this month. Please note that the Physical Cash Concentration Service Terms reflect your sweep instructions at the time of mailing.

If you make any changes to your Cash Concentration sweep at First Republic before your account transitions to JPMorganChase, we’ll adopt these changes and they’ll supersede the sweep instructions described in your Schedule A. Continued use of this product with the updated sweep instructions will constitute your consent to the Physical Cash Concentration Service Terms. If the changes that you made are material, you’ll receive a revised Schedule A to your Physical Cash Concentration Service Terms after your account transitions.

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