We recently stumbled across two press releases from new entities -- Double Rock and Intrasweep -- that appear to be affiliates or reincarnations of The Reserve (Funds). The first release, "Double Rock Corporation Issued Patent on Innovative FDIC-Insured Sweep Technology," quotes Reserve's John Drahzal, identified as MD of LIDs Capital LLC, a "wholly owned subsidiary of Double Rock that will utilize the newly issued patent and offer its Liquid Insured Deposits program to brokerage clients." Drahzal says, "We have been creating value for our brokerage clients since we invented the first FDIC-insured sweep program over a decade ago. Receiving this patent for our unique multi-bank tiering functionality is a fitting reward for innovation for which we are extremely proud." The second press release, "Intrasweep Announces "Summer of Strength" Campaign, Supports Bank Clients, says, "The campaign provides an opportunity for its client banks to increase deposits and profitability through the unique Intrasweep On-Balance-Sheet Sweep program." The release adds, "The Intrasweep On-Balance-Sheet Sweep is a complete cash management solution for banks to grow deposits and improve their balance sheet liquidity while enabling their commercial depositors to earn interest on idle account balances. Because the interest on these commercial sweep balances are held at an account at the bank instead of at an outside money fund or repo sweep program, valuable deposits are retained by the bank as core deposits, which can be used to fund local loan demand." In other news, note that Crane Data's Peter Crane will be speaking tomorrow at a SIFMA Asset Management Account Roundtable meeting in Palm Beach, Fla., on the "State of the Money Market Fund & Cash Investment Marketplace."

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