Objectives5

Establishes Standards

To increase the resiliency of each participating institution

Promotes Adoption

Of the Sheltered Harbor standards by financial institutions

Monitors  Adherence

To the standards so that consumers benefit from the added protections

What is Sheltered Harbor?

An extra layer of protection against potential significant cyber risk 

Industry Response

Financial Services industry trade groups and leaders, along with core processing providers, have established new resiliency capabilities.  These ensure that consumers will be able to access their financial accounts - even if their bank or brokerage becomes inoperable.

Standard Data

All participating institutions, on a regular basis, make a copy of the consumer's account data in a standard format, which enables the restoration of accounts in the event of a major outage.

Secure Vault

The account data is archived in a secure data vault that is protected from alteration or deletion.  The data will stay intact and accessible if needed - exactly as when it was archived.

Monitored Regularly

All participating institutions update their adherence reviews to ensure that the Sheltered Harbor standards are exercised consistently and in accordance with Sheltered Harbor specifications.

Why Sheltered Harbor?

Enhanced resiliency provides additional protections for customer accounts

ABA Video - 1/15/2018

Join as Bank or Credit Union

For banks and credit unions, Participant fees are determined based on both Participants’ Total US Banking Assets and Participant’s Total US Deposit Accounts to more accurately reflect bank size. Below describes current fees applying at each level of Participant’s assets and accounts.

Annual Fee Assessment Schedule for Banks and Credit Unions

 Assets

 Accounts 

 Fee 

Join Sheltered Harbor
On-Line
Download 
 <$100MM  and   <10K  $250       007 monitor 1          OR        Download $250 Agreement
 <$1B  and    <500K  $500        007 monitor 1          OR       Download $500 Agreement
 >500K  $2,500       007 monitor 1          OR       Download $2500 Agreement
 $1B - $50B    and   <500K  $2,500       007 monitor 1          OR       Download $2500 Agreement
 >500K  $10,000       007 monitor 1          OR       Download $2500 Agreement
 >$50B  and  <1M  $10,000       007 monitor 1          OR       Download $2500 Agreement
 >1M  $25,000       007 monitor 1      OR       Download 25000 Agreement

If your operations include brokerage and/or asset management accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.

Join as Broker

For securities firms, Participant fees are determined based on both Client Assets* and the Number of Clearing Clients. The schedule below describes current fees applying at each level of Participant’s assets and accounts.

Annual Fee Assessment Schedule for Securities Firms

 Client
 Assets*

 Clearing
 Clients

 Fee 

Join Sheltered Harbor
 On-Line
Download 

 <$100MM

 and 

 <1 (self clearer)      

 $2,500

     007 monitor 1    

 OR 

      Download $2500 Agreement

 <$10B

 and  

 <50

 $5000 

     007 monitor 1    

 OR

      Download $5000 Agreement

 50 - 100

 $10,000 

     007 monitor 1    

 OR

      Download 10000 Agreement

 $10B - $200B  

 and 

 <20

 $10,000 

     007 monitor 1    

 OR

      Download 10000 Agreement

 >20

 $25,000 

     007 monitor 1    

 OR

      Download 25000 Agreement
 >$200B    or   >100  $25,000       007 monitor 1     OR       Download 25000 Agreement

* Including discretionary and non-discretionary assets

If your operations include banking and/or asset management accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.

Join as an Asset Manager

For Asset Managers, Transfer Agents and Recordkeepers,  Participant Fees are determined based on AUM or Plan Assets.  The schedule below describes current fees applying at each level of Participant's AUM or plan assets.

Annual Fee Schedule for Asset Managers, Transfer Agents, and Recordkeepers

AUM or Plan Assets    Fee   Join Sheltered Harbor 
On-Line Download
 <$20B  $2,500      007 monitor 1      OR        Download 2500 Agreement
 $20B - $50B  $5,000      007 monitor 1      OR       Download 5000 Agreement
 $50B - $200B  $15,000       007 monitor 1      OR       Download 15000 Agreement
 > $200B  $25,000       007 monitor 1      OR       Download 25000 Agreement

If your operations include banking and/or brokerage accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.