Recent turmoil in the U.S. banking system has brought the treasury management function of all institutions into sharper focus. Within the corporate bankruptcy space, federal and state fiduciaries, such as receivers and U.S. trustees, often manage substantial cash positions for the benefit of receivership or bankruptcy estates. In order to protect estates for the ultimate benefit of creditors or even defrauded victims, these fiduciaries are typically mandated with minimizing risk. In the wake of recent bank failures, it is more important than ever to carefully consider the cash-management options available for the needs of each particular case and the risk tradeoffs to analyze when operating within the structures of the U.S. banking system.