Safekeeping and Custody Services
FHLB Des Moines offers safekeeping and custody services for Federal Reserve Book entry or depository eligible and physical securities.
Our safekeeping services provide third party securities pledging, same-day cash settlement transactions, timely resolutions of payment problems and a monthly statement of holdings report through eAdvantage. For more information, please contact us.
Safekeeping and custody business hours are 8:00 AM to 4:30 PM (CST) Monday through Friday, except on holidays. Sales and purchases of securities should be entered, verified and authorized in Safekeep Direct prior to the Fed cut off at 2:00 PM (CST). DTC items that are being delivered free should be entered, verified and authorized prior 4:30 PM (CST).
Safekeep Direct is our secure, self-service portal for member management of security settlements, custody reporting and custodial pledging. It offers our safekeeping users enhanced technology, faster data, real-time access and improved custom reporting. A Safekeep Direct Resources page is available within eAdvantage that houses training guides, how-to videos and other resources. If you have questions about Safekeep Direct, please contact Customer Service, firstname.lastname@example.org.
In certain circumstances, FHLB Des Moines can perform the purchase or sale of a security on the member’s behalf. FHLB Des Moines Policy states that all securities that entered on a member’s behalf, must be verified with authorized personnel at the member institution by phone. For more information, contact Customer Service, email@example.com or 800.544.3452, ext. 2200.
Pledging Securities: Public Units
Pledging securities to a public unit is executed using Safekeep Direct. Complete instructions can be found in the Safekeep Direct User Guide located on the Safekeep Direct resources page on eAdvantage.
If your institution cannot access Safekeep Direct, an Exhibit A form must be completed sent to Customer Service, firstname.lastname@example.org. This will also be required for securities that require the third party’s signature authorizing the release of the security. In certain circumstances, you may need to amend authorized agents to the Custodial Agreement. If amendments are needed, please complete an Exhibit B form
Financial institutions pledging securities to a Public Unit must complete a Securities Custodial Agreement and Exhibits form. This sample agreement document is provided for informational purposes only. The Securities Custodial Agreement needs to be completed and signed by all parties: the Pledgor, Secured Party (third party) and Custodian (FHLB Des Moines). The member institution should complete the agreement and forward it to the third party for execution. Both parties should retain a copy of the Securities Custodial Agreement for their records. Members may pledge or withdraw securities only after the Securities Custodial Agreement has been executed.