NEW YORK, May 22 Reuters BNY Mellon is expanding its offering of shortterm investment products as investors chase higher yields, the bank announced on Monday.

The bank is now offering access to mutual funds, interestbearing deposits and sponsored cleared repurchase agreement sweep products through its LiquidityDirect platform, a portal for institutional investors. The offerings are geared at corporate treasurers seeking to maximize liquidity and mitigate counterparty credit risk in an uncertain economic environment.

BNY currently oversees 1.3 trillion of cash investments across deposits, money market funds and other instruments. It manages 15 trillion in moneymarket transactions a year.

Investors are navigating the impact of rapid U.S. interestrate increases, the regional banking crisis, and debt ceiling negotiations, said George Maganas, global head of liquidity services at BNY Mellon.

Safety and capital preservation is front of mind with some of the market issues that we39;re seeing, he said. Clients are trying to deal with all these different dynamics … and manage their liquidity based on some of the market conditions.

Cash management is quickly becoming a top priority for finance executives as some regional banks, a key source of market liquidity, undergo stress as rates rise. It also shows how BNY, which touches 20 of the world39;s investable assets, is building its platform into a onestop shop for clients to manage their cash.

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