Using the SPP Returns/P&I Withdrawal Request, you can request that DTC return all or a portion of an SPP you submitted earlier in the day down to a zero balance. You can request that these payments be wired to your DTC Settlement Bank intraday, before the settlement period. Contact your Relationship Manager to obtain access to this update capability. DTC must receive your request no later than 3:20 p.m. eastern time. When DTC receives your reversal request, it:
- Debits the amount from your settlement account providing you have sufficient collateral and a credit balance.
- Returns the funds via Fedwire to your Settling Bank as indicated on your standing wire instructions with DTC.
Note- DTC will not return the funds if doing so would put your account into a debit balance.