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J.P. Morgan is completing a new service where your withdrawal requests from <br />LAIF will be made directly through J.P. Morgan into your designated account. <br />There will no longer be a need for you to select a different transfer bank. This new <br />service should be available later in 2or6. <br />Please refer to the pricing section of the response for any applicable fees. <br />3. What is the charge per transfer to LAID? From LAZF? <br />The cost for Book Debits and Credits is $3.00 per debit /credit. <br />4. Zs it possible to set up the transfers in advance? If so, how far in advance can <br />a transfer be set up? <br />Future -dated transactions can be requested up to ro calendar days in advance. <br />5. Describe the method used by the Bank for processing State of California <br />apportionment payments. <br />Tax Apportionments typically originate from the State Controller's Office. We <br />recommend that the City uses the EFT form located on the State Controllers <br />"Apportionment" website tab to receive future payments via EFT. <br />F. Cash Management. <br />The Treasury & Customer Services Manager manages the City's $309 million dollar <br />investment portfolio. The portfolio consists of mostly fixed income type securities, <br />such as federal agency securities, certificates of deposits, etc. In the event the City <br />releases wire transfers in amounts greater than the current Bank balance in <br />anticipation of receiving funds either by a maturing investment or deposits, the City <br />would have the need for a daylight overdraft to accommodate its cash management <br />activities. The amount of the daylight overdraft may be as high as $5 million, The <br />bank should have the capitalization necessary to accommodate the City's depository <br />and cash flow needs. <br />1. What is the Bank's policy regarding Daylight Overdrafts (DOD)? If there is a <br />charge for DOD, how is it calculated? <br />Recognizing a client's credit standing and reputation, an appropriate intraday <br />credit limit will continue to be made available to make sure your transactions <br />flow smoothly and efficiently through our systems. This limit is electronically <br />verified by our Funds Transfer Balance Control System. Payments within the <br />limit, plus the current cash position in your account, will instantly flow through <br />to the appropriate execution mechanism. <br />Should a payment take your account balances over the intraday limit, the transfer <br />will be stored electronically and referred to your funds control officer in the <br />Transaction Approval Group (TAG) for approval. If covering funds are received <br />while the payment is stored, the transfer will be automatically released without <br />manual intervention. <br />Page 46 J P. M®raan <br />55E -141 <br />