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U.S. bank will provide a monthly Earnings Allowance (EA) to be applied to monthly analysis <br /> fees based on Average Collected Balances in the City's combined accounts. The EA is <br /> calculated on an accrual basis of actual/365-366. The Earnings Credit Rate is a bank <br /> managed rate tied to Target Fed Funds. We use the following formula to calculate the <br /> Earnings Allowance: <br /> Ave. Coll. Bal $ X ECR/ 365 X# of Days in the month = Earnings Allowance <br /> F. New Service Charge Factors/Prices <br /> New service charge factors and their prices may be added or old factors deleted by mutual <br /> consent during the period covered by the agreement. <br /> U.S. Bank agrees to this stipulation. Any new services or changes desired throughout the <br /> duration of the contract will be mutually agreed upon by the City and the Bank, except under <br /> the conditions of changes to Federal Banking Laws and/or Regulations which may impact <br /> the City along with other U.S. Bank clients. <br /> City of Everett Banking Service Requirements 37 <br /> Banking Services Proposal <br />