Examine this credit agreement. Between SYNCHRONOSS TECHNOLOGIES, and Citizens Bank. What are the implications for Synchronoss if the Fed Fund rate is increased?

https://www.sec.gov/Archives/edgar/data/0001131554/000113155420000025/sncr-123119ex10232019credi.htm

https://www.sec.gov/ix?doc=/Archives/edgar/data/1131554/000113155421000012/sncr-20201231.htm#ic2a6e4aa8d3546c28bf3c77fc7ca0847_16

https://www.sec.gov/ix?doc=/Archives/edgar/data/759944/000075994421000034/cfg-20201231.htm

https://www.frbservices.org/resources/central-bank/faq/reserve-account-admin-app.html

Please examine references to Federal Funds in the 10-K of Citizens Financial Group (CFG).

https://www.sec.gov/ix?doc=/Archives/edgar/data/759944/000075994421000034/cfg-20201231.htm

Is CFG a net lender or net borrower of fed funds?

Look at the effective and the target Federal Funds Rates.

https://www.newyorkfed.org/markets/reference-rates/effr

How does the Federal reserve put upward pressure on the effective Fed Funds Rate?