Wells Fargo Securities, LLC fixed income institutional clients have the option of selecting Wells Fargo Bank, N.A. (WFBNA) for safekeeping services. Clients who select WFBNA safekeeping services for the custody of securities purchased from Wells Fargo Securities, LLC will have their securities delivered to and held in a WFBNA safekeeping account.
The schedule of current fees associated with this safekeeping service are available upon request from a Wells Fargo sales representative or by calling Wells Fargo Customer Service at 1-800-645-3751 option #5.
Interest will be charged on any debit balances in a WFBNA safekeeping account at the current Applicable Rate.
The Applicable Rate effective 10/01/2024 is: 5.75%
The Applicable Rate is determined by Wells Fargo in its sole discretion based upon consideration of general credit market conditions, commercially recognized interest rates and its cost of funds.
Wells Fargo Corporate & Investment Banking (CIB) and Wells Fargo Securities (WFS) are the trade names used for the corporate banking, capital markets, and investment banking services of Wells Fargo & Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, member of NYSE, FINRA, NFA, and SIPC, Wells Fargo Prime Services, LLC, member of FINRA, NFA and SIPC, and Wells Fargo Bank, N.A., member NFA and swap dealer registered with the CFTC and security-based swap dealer registered with the SEC, member FDIC. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC, are distinct entities from affiliated banks and thrifts.
LRC-0522
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