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# Account Structure

ModernFi uses a simple account structure to facilitate its deposit network.

#### **Program Omnibus Account**

For institutions sweeping deposits off-balance sheet or reciprocating deposits, a single program omnibus account is opened at the institution to facilitate the sweep. Deposits move from this program omnibus account into and out of the network of receiving institutions — specifically, from the program omnibus account to a settlement account at ModernFi's custodian, where they are allocated to receiving institutions.

#### **Depositor Accounts**

The program omnibus account is subledgered at the depositor level. ModernFi tracks individual balances and transaction history for each depositor within the omnibus. A single depositor can have multiple accounts, each funded through internal transfers from the depositor's existing bank accounts.

In the ModernFi API, these are referred to as **accounts**. Each account belongs to a depositor and holds its own balance and transaction history.