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BROKERAGE ACCOUNT BANK DEPOSIT SWEEP PROGRAM
Additions to cash balances awaiting reinvestment within clients’ eligible brokerage accounts are automatically swept into Commonwealth’s Brokerage Account Bank Deposit Sweep Program providing Federal Deposit Insurance Corporation (FDIC) insurance. For more information, please review the links below or contact your financial advisor.
Program Interest Rates as of March 12, 2010
| Bank Account Balance Range |
Interest Rate |
APY |
| $1–$24,999 |
0.05% |
0.05% |
| $25,000–$99,999 |
0.05% |
0.05% |
| $100,000–$249,999 |
0.05% |
0.05% |
| $250,000–$499,999 |
0.05% |
0.05% |
| $500,000–$999,999 |
0.07% |
0.07% |
| $1,000,000–$1,999,999 |
0.10% |
0.10% |
| $2,000,000 or more |
0.12% |
0.12% |
Program Bank List as of March 12, 2010
Position
|
Region 1
MA, ME, NH, RI, VT |
Region 2
CT, NY |
Region 3
AK, CO, HI, ID, KS, MT, NE, NM, NV, OR, UT, WA, WY |
Region 4
CA |
| 1 |
M&I Marshall & Ilsley Bank |
Zions FNB |
Boston Private Bank |
New York Community Bank |
| 2 |
Union Bank, N.A. |
Union Bank, N.A. |
Capital One (USA), N.A. |
Union Bank, N.A. |
| 3 |
Manufacturers and Traders Trust |
New York Community Bank |
New York Community Bank |
M&I Marshall & Ilsley Bank |
| 4 |
Boston Private Bank |
M&I Marshall & Ilsley Bank |
Union Bank, N.A. |
Zions FNB |
| 5 |
New York Community Bank |
Capital One (USA), N.A. |
M&I Marshall & Ilsley Bank |
Manufacturers and Traders Trust |
| 6 |
Zions FNB |
Boston Private Bank |
Trustmark Bank |
Capital One (USA), N.A. |
| 7 |
Trustmark Bank |
Manufacturers and Traders Trust |
Manufacturers and Traders Trust |
Trustmark Bank |
| 8 |
Capital One (USA), N.A. |
Trustmark Bank |
Zions FNB |
Boston Private Bank |
|
Excess Banks
|
| 1 |
Union Bank,
N.A. |
Union Bank,
N.A. |
Union Bank,
N.A. |
Union Bank,
N.A. |
| 2 |
Capital One
(USA), N.A. |
Capital One
(USA), N.A. |
Capital One
(USA), N.A. |
Capital One
(USA), N.A. |
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Please note: A client's state of residence determines his or her priority list. |
| Position |
Region 5
AL, AR, AZ, KY, LA, MO, OK, TX, TN |
Region 6
DC, DE, FL, GA, MD, MS, NC, SC |
Region 7
IA, IL, IN, MI, MN, ND, OH, SD, WI |
Region 8
NJ, PA, VA, WV, Others |
| 1 |
Union Bank,
N.A. |
Zions FNB |
Manufacturers and Traders Trust |
M&I Marshall & Ilsley Bank |
| 2 |
New York Community Bank |
Boston Private Bank |
Union Bank, N.A. |
Manufacturers and Traders Trust |
| 3 |
Boston Private Bank |
Union Bank, N.A. |
Boston Private Bank |
Trustmark Bank |
| 4 |
Zions FNB |
Capital One (USA), N.A. |
Capital One (USA), N.A. |
Boston Private Bank |
| 5 |
M&I Marshall & Ilsley Bank |
M&I Marshall & Ilsley Bank |
New York Community Bank |
Union Bank, N.A. |
| 6 |
Manufacturers and Traders Trust |
New York Community Bank |
Trustmark Bank |
New York Community Bank |
| 7 |
Trustmark Bank |
Trustmark Bank |
M&I Marshall & Ilsley Bank |
Zions FNB |
| 8 |
Capital One (USA), N.A. |
Manufacturers and Traders Trust |
Zions FNB |
Capital One (USA), N.A. |
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Excess Banks
|
| 1 |
Union Bank,
N.A. |
Union Bank,
N.A. |
Union Bank,
N.A. |
Union Bank,
N.A. |
| 2 |
Capital One (USA), N.A. |
Capital One (USA), N.A. |
Capital One (USA), N.A. |
Capital One (USA), N.A. |
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Please note: A client's state of residence determines his or her priority list. |
Eligible Accounts
| Committee (not incorporated) |
| Conservator (estate) |
| Uniform Gifts to Minors Act |
| Uniform Transfers to Minors Act |
| Guardian |
| Individual |
| Traditional IRA (Premiere Select) |
| Roth IRA (Premiere Select) |
| Rollover IRA (Premiere Select) |
| SEP-IRA (Premiere Select) |
| SIMPLE-IRA (Premiere Select) |
| Non-Prototype IRA |
| Sole Proprietorship (not incorporated) |
| Joint Community Property |
| Joint Tenants in Common |
| Joint Tenants in Entirety |
| Joint Usufruct |
| Joint with Rights of Survivorship |
| Person Representative |
| Transfer on Death (Individual) |
| Transfer on Death (Joint tenants) |
| Transfer on Death (Joint entity) |
Ineligible Accounts
Bank |
| Church |
| Corporate |
| Investment Club |
| Professional Association |
| Professional Corporation |
| Unincorporated Association |
| Limited Liability Corporation |
| Money Purchase Keogh (Premiere Select) |
| Voluntary Money Purchase Keogh (Premiere Select) |
| Profit-Sharing Keogh (Premiere Select) |
| Voluntary Money Purchase Keogh (Premiere Select) |
| Voluntary Profit-Sharing Keogh (Premiere Select) |
| Keogh MP BDA |
| Keogh PS BDA |
| Administrator |
| Executor |
| Partnership |
Conditionally Eligible Accounts*
Non-Prototype Retirement Plan
(401(a) plans) |
| IRA BDA |
| ROTH BDA |
| Trust Under Agreement |
| Trust Under Will |
*Please contact your financial advisor for more information.
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