Core Account Sweep Programs
Additions to cash balances awaiting reinvestment within clients' eligible brokerage accounts are automatically swept into Commonwealth's Core Account Sweep Programs providing Federal Deposit Insurance Corporation (FDIC) insurance.
For more information, please review the link below or contact your financial advisor.
Bank Deposit Sweep Program Interest Rates as of May 12, 2021
Bank Account Balance Range | Interest Rate | APY |
$0–$24,999 | 0.01% | 0.01% |
$25,000–$99,999 | 0.01% | 0.01% |
$100,000–$249,999 | 0.01% | 0.01% |
$250,000–$499,999 | 0.01% | 0.01% |
$500,000–$999,999 | 0.01% | 0.01% |
$1,000,000–$1,999,999 | 0.01% | 0.01% |
$2,000,000 or more | 0.01% | 0.01% |
Advisory Retirement Sweep Program Interest Rates
The interest rate for your Deposit Accounts in the ARSP as of May 23, 2022, is 0.18%. Future interest rates may be obtained from Commonwealth on this page (www.commonwealth.com/for-clients/disclosure/core-account-sweep-programs) or from your financial advisor.
Program Bank List as of August 6, 2021. Please contact your financial advisor or go to www.commonwealth.com for the most current Bank List and other information about the Programs.
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 | Goldman Sachs Bank | American Express National Bank | Goldman Sachs Bank | Manufacturers and Traders Trust |
2 | U.S. Bank National Association | U.S. Bank National Association | JPMorgan Chase Bank N.A. | JPMorgan Chase Bank N.A. |
3 | JPMorgan Chase Bank N.A. | JPMorgan Chase Bank N.A. | New York Community Bank | JPMorgan Chase Bank N.A. |
4 | Bank of China | Bank of Hope | U.S. Bank National Association | Pinnacle Bank |
5 | Pinnacle Bank | Wells Fargo Bank, N.A. | Manufacturers and Traders Trust | U.S. Bank National Association |
6 | State Street Bank and Trust | Pinnacle Bank | Bank of China | Bank of China |
7 | Bank of Hope | Manufacturers and Traders Trust | State Bank of India—NY Branch | Bank of Hope |
8 | State Bank of India—NY Branch | Bank of China | Bank of the West | State Bank of India—NY Branch |
9 | Bank of the West | Bank of the West | The Bank of East Asia, Ltd | Boston Private Bank |
10 | Umpqua Bank | East West Bank | Wells Fargo Bank, N.A. | East West Bank |
11 | First Horizon Bank | State Bank of India—NY Branch | East West Bank | Umpqua Bank |
12 | Bank of Baroda | Silicon Valley Bank | First Horizon Bank | Silicon Valley Bank |
13 | Wells Fargo Bank, N.A. | First Horizon Bank | State Street Bank and Trust | Wells Fargo Bank, N.A. |
14 | Manufacturers and Traders Trust | Bank of Baroda | Bank of Baroda | First Horizon Bank |
15 | East West Bank | Umpqua Bank | Bank of Hope | The Bank of East Asia, Ltd |
16 | The Bank of East Asia, Ltd | State Street Bank and Trust | PNC Bank, N.A. | Synchrony Bank |
17 | Silicon Valley Bank | The Bank of East Asia, Ltd | Silicon Valley Bank | American Express National Bank |
18 | PNC Bank, N.A. | Synchrony Bank | American Express National Bank | BancorpSouth Bank |
19 | BancorpSouth Bank | PNC Bank, N.A. | Pinnacle Bank | Capital One (USA), N.A. |
20 | Capital One (USA), N.A. | WEX Bank | Umpqua Bank | Bank of Baroda |
21 | WEX Bank | BancorpSouth Bank | Synchrony Bank | Goldman Sachs Bank |
22 | Synchrony Bank | Capital One (USA), N.A. | WEX Bank | New York Community Bank |
23 | American Express National Bank | New York Community Bank | Capital One (USA), N.A. | WEX Bank |
24 | New York Community Bank | Goldman Sachs Bank | BancorpSouth Bank | PNC Bank, N.A. |
25 | First Internet Bank of Indiana | First Internet Bank of Indiana | First Internet Bank of Indiana | First Internet Bank of Indiana |
26 | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. |
Excess Banks | ||||
1 | U.S. Bank National Association, N.A | U.S. Bank National Association, N.A | U.S. Bank National Association, N.A | U.S. Bank National Association, N.A |
2 | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. |
Please note: A client's state of residence determines his or her priority list. |
Position | Region 5 | Region 6 | Region 7 | Region 8 | Business |
AL, AR, AZ, KY, LA, MO, OK, TN, TX | DC, DE, FL, GA, MD, MS, NC, SC | IA, IL, IN, MI, MN, ND, OH, SD, WI | NJ, PA, VA, WV All Other | ||
1 | Synchrony Bank | PNC Bank, N.A. | Goldman Sachs Bank | U.S. Bank National Association | Bank of the West |
2 | U.S. Bank National Association | JPMorgan Chase Bank N.A. | New York Community Bank | JPMorgan Chase Bank N.A. | JPMorgan Chase Bank N.A. |
3 | The Bank of East Asia, Ltd | State Bank of India—NY Branch | U.S. Bank National Association | State Bank of India—NY Branch | Bank of China |
4 | JPMorgan Chase Bank N.A. | Bank of the West | JPMorgan Chase Bank N.A. | Bank of the West | PNC Bank, N.A. |
5 | Manufacturers and Traders Trust | U.S. Bank National Association | Bank of China | Bank of China | Wells Fargo Bank, N.A. |
6 | State Street Bank and Trust | Bank of China | Wells Fargo Bank, N.A. | Bank of Baroda | East West Bank |
7 | First Horizon Bank | Silicon Valley Bank | Bank of the West | Pinnacle Bank | First Horizon Bank |
8 | Bank of the West | Manufacturers and Traders Trust | East West Bank | Capital One (USA), N.A. | Bank of Hope |
9 | Bank of Hope | State Street Bank and Trust | The Bank of East Asia, Ltd | East West Bank | State Street Bank and Trust |
10 | Umpqua Bank | East West Bank | PNC Bank, N.A. | Wells Fargo Bank, N.A. | Bank of Baroda |
11 | Bank of Baroda | First Horizon Bank | State Bank of India—NY Branch | State Street Bank and Trust | Synchrony Bank |
12 | Wells Fargo Bank, N.A. | Capital One (USA), N.A. | Silicon Valley Bank | First Horizon Bank | The Bank of East Asia, Ltd |
13 | Bank of China | Wells Fargo Bank, N.A. | State Street Bank and Trust | Manufacturers and Traders Trust | State Bank of India—NY Branch |
14 | East West Bank | Pinnacle Bank | American Express National Bank | Silicon Valley Bank | Pinnacle Bank |
15 | State Bank of India—NY Branch | Bank of Baroda | First Horizon Bank | Umpqua Bank | New York Community Bank |
16 | Silicon Valley Bank | Umpqua Bank | Bank of Baroda | Bank of Hope | WEX Bank |
17 | PNC Bank, N.A. | Bank of Hope | Manufacturers and Traders Trust | PNC Bank, N.A. | Umpqua Bank |
18 | Capital One (USA), N.A. | The East Bank of East Asia, Ltd | Umpqua Bank | New York Community Bank | Silicon Valley Bank |
19 | American Express National Bank | American Express National Bank | Bank of Hope | Synchrony Bank | Capital One (USA), N.A. |
20 | New York Community Bank | New York Community Bank | WEX Bank | WEX Bank | BancorpSouth Bank |
21 | Pinnacle Bank | Goldman Sachs Bank | Pinnacle Bank | American Express National Bank | First Internet Bank of Indiana |
22 | WEX Bank | Synchrony Bank | Capital One (USA), N.A. | BancorpSouth Bank | Citibank, N.A. |
23 | Goldman Sachs Bank | WEX Bank | Synchrony Bank | Goldman Sachs Bank | |
24 | BancorpSouth Bank | BancorpSouth Bank | BancorpSouth Bank | The Bank of East Asia, Ltd | |
25 | First Internet Bank of Indiana | First Internet Bank of Indiana | First Internet Bank of Indiana | First Internet Bank of Indiana | |
26 | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. | Citibank, N.A. | |
Excess Bank List | |||||
1 | U.S. Bank National Association | U.S. Bank National Association | U.S. Bank National Association | U.S. Bank National Association | U.S. Bank National Association |
2 | Citibank, N.A. | Citibank, N.A. | Citibank, N.A.. | Citibank, N.A. | Citibank, N.A. |
Eligible Accounts | Eligible Accounts (Cont.) | Ineligible Accounts |
Committee (not incorporated) | Trust Under Agreement | Money Purchase Keogh (Premiere Select) |
Conservator (estate) | Trust Under Will | Voluntary Money Purchase Keogh (Premiere Select) |
Uniform Gifts to Minors Act | Bank | Profit-Sharing Keogh (Premiere Select) |
Uniform Transfers to Minors Act | Church | Voluntary Profit-Sharing Keogh (Premiere Select) |
Guardian | Corporate | Keogh MP BDA |
Individual | Investment Club | Keogh PS BDA |
Traditional IRA (Premiere Select) | Professional Association |
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Roth IRA (Premiere Select) | Professional Corporation |
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Rollover IRA (Premiere Select) | Unincorporated Association |
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SEP IRA (Premiere Select) | Limited Liability Corporation |
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SIMPLE IRA (Premiere Select) | Administrator |
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IRA BDA | Executor |
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Roth BDA | Partnership |
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Non-Prototype IRA |
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Non-Prototype Retirement Plan |
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Sole Proprietorship (not incorporated) |
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Joint Community Property |
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Joint Tenants in Common |
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Joint Tenants in Entirety |
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Joint Usufruct |
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Joint with Rights of Survivorship |
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Person Representative |
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Transfer on Death (Individual) |
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Transfer on Death (Joint tenants) |
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Transfer on Death (Joint entity) |
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*Please contact your financial advisor for more information.