Money Market Operations

Short-Term Investment & Liquidity Management

Meridian Corp. — CP program issuance, MMF ladder optimization, and tiered liquidity buffer assessment

CP/SOFR Outstanding

$175.0M

3 active programs

MMF Portfolio

$215.0M

Avg yield 5.26%

Liquidity Buffer

$401.1M

4-tier coverage

SOFR Fixing

5.31%

NY Fed — 08:00 ET

Today's Issuance Pipeline — April 8, 2026

Commercial Paper

Meridian Corp. USCP Program

pending

Face Value

$50.0M

Discount Rate

5.42%

Tenor

30D

Proceeds

$49.8M

Dealer

National

Issue: 2025-03-17Maturity: 2025-04-16Rating: A-1+Ref: CP-2025-0317-001

SOFR Floating Note

Meridian Corp. MTN Program

pending

Face Value

$100.0M

Discount Rate

5.31%

Tenor

90D

Proceeds

$98.7M

Dealer

Sterling

Issue: 2025-03-17Maturity: 2025-06-15Rating: A-1Ref: SOFR-2025-0317-001

Commercial Paper

Meridian Corp. USCP Program

pending

Face Value

$25.0M

Discount Rate

5.38%

Tenor

14D

Proceeds

$24.9M

Dealer

Hartwell

Issue: 2025-03-17Maturity: 2025-03-31Rating: A-1+Ref: CP-2025-0317-002

Issuance Workflow

Program Authorization

Verify USCP program limits and board authorization

Dealer Quote Collection

Soliciting discount rates from 3 primary dealers

Best Rate Selection

Comparing quotes — NCB: 5.42%, SCM: 5.44%, HTW: 5.38%

DTC Allocation

Submitting issuance instruction to DTCC CP clearing

Fedwire Settlement

T+0 same-day funds transfer to Meridian Corp. settlement account

SWIFT MT566 Confirmation

Confirmation of issuance and proceeds receipt

SOFR Reference Rate

Today's NY Fed SOFR fixing: 5.31%

SOFR floating notes reset daily at 08:00 ET. Accrual basis: ACT/360.