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 July 1, 2020
| 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 August 14, 2020, 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 July 1, 2020
| 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 | Bank of China | Bank of China | New York Community Bank | State Street Bank and Trust |
| 3 | Pinnacle Bank | Bank of Hope | First Horizon Bank | Pinnacle Bank |
| 4 | State Street Bank and Trust | Manufacturers and Traders Trust | Manufacturers and Traders Trust | Bank of Hope |
| 5 | State Bank of India - NY Branch | Pinnacle Bank | State Bank of India - NY Branch | Bank of China |
| 6 | Bank of Hope | State Bank of India - NY Branch | Boston Private Bank | Boston Private Bank |
| 7 | Manufacturers and Traders Trust | U.S. Bank National Association | The Bank of East Asia, Ltd | State Bank of India - NY Branch |
| 8 | Bank of Baroda | Boston Private Bank | State Street Bank and Trust | Synchrony Bank |
| 9 | The Bank of East Asia, Ltd | State Street Bank and Trust | American Express National Bank | The Bank of East Asia, Ltd |
| 10 | Umpqua Bank | Synchrony Bank | U.S. Bank National Association | American Express National Bank |
| 11 | Boston Private Bank | Bank of Baroda | WEX Bank | Umpqua Bank |
| 12 | U.S. Bank National Association | The Bank of East Asia, Ltd | Bank of Baroda | U.S. Bank National Association |
| 13 | American Express National Bank | East West Bank | Bank of China | East West Bank |
| 14 | BancorpSouth Bank | WEX Bank | Synchrony Bank | BancorpSouth Bank |
| 15 | WEX Bank | Umpqua Bank | East West Bank | Goldman Sachs Bank |
| 16 | Synchrony Bank | Goldman Sachs Bank | Capital One (USA), N.A. | Bank of Baroda |
| 17 | East West Bank | New York Community Bank | Bank of the West | WEX Bank |
| 18 | PNC Bank, N.A. | BancorpSouth Bank | Pinnacle Bank | New York Community Bank |
| 19 | New York Community Bank | PNC Bank, N.A. | Bank of Hope | PNC Bank, N.A. |
| 20 | Capital One (USA), N.A. | Capital One (USA), N.A. | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. |
| 21 | Wells Fargo Bank, N.A. | Bank of the West | Umpqua Bank | Bank of the West |
| 22 | First Horizon Bank | Wells Fargo Bank, N.A. | BancorpSouth Bank | Capital One (USA), N.A. |
| 23 | Bank of the West | First Horizon Bank | PNC Bank, N.A. | First Horizon Bank |
| 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 | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. |
| 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 | Synchrony Bank | PNC Bank, N.A. | Goldman Sachs Bank | U.S. Bank National Association |
| 2 | Bank of China | State Bank of India - NY Branch | New York Community Bank | Capital One (USA), N.A. |
| 3 | The Bank of East Asia, Ltd | Manufacturers and Traders Trust | Boston Private Bank | State Bank of India - NY Branch |
| 4 | U.S. Bank National Association | First Horizon Bank | First Horizon Bank | First Horizon Bank |
| 5 | Manufacturers and Traders Trust | Boston Private Bank | Bank of China | Bank of Baroda |
| 6 | State Street Bank and Trust | U.S. Bank National Association | State Bank of India - NY Branch | Pinnacle Bank |
| 7 | State Bank of India - NY Branch | State Street Bank and Trust | The Bank of East Asia, Ltd | State Street Bank and Trust |
| 8 | Capital One (USA), N.A. | Capital One (USA), N.A. | U.S. Bank National Association | Manufacturers and Traders Trust |
| 9 | First Horizon Bank | Bank of China | State Street Bank and Trust | East West Bank |
| 10 | Bank of Baroda | Bank of Baroda | American Express National Bank | Boston Private Bank |
| 11 | Boston Private Bank | The Bank of East Asia, Ltd | WEX Bank | New York Community Bank |
| 12 | American Express National Bank | East West Bank | Bank of Baroda | WEX Bank |
| 13 | Umpqua Bank | American Express National Bank | Synchrony Bank | Bank of the West |
| 14 | Bank of Hope | Pinnacle Bank | Manufacturers and Traders Trust | American Express National Bank |
| 15 | East West Bank | Synchrony Bank | East West Bank | Synchrony Bank |
| 16 | Bank of the West | Umpqua Bank | Capital One (USA), N.A. | Bank of Hope |
| 17 | Wells Fargo Bank, N.A. | Bank of Hope | PNC Bank, N.A. | Umpqua Bank |
| 18 | WEX Bank | WEX Bank | Bank of the West | PNC Bank, N.A. |
| 19 | Pinnacle Bank | New York Community Bank | Bank of Hope | Goldman Sachs Bank |
| 20 | PNC Bank, N.A. | Goldman Sachs Bank | Pinnacle Bank | Wells Fargo Bank, N.A. |
| 21 | New York Community Bank | BancorpSouth Bank | Umpqua Bank | BancorpSouth Bank |
| 22 | Goldman Sachs Bank | Bank of the West | BancorpSouth Bank | |
| 22 | BancorpSouth Bank | Wells Fargo Bank, N.A. | Wells Fargo Bank, 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 | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. |
| Please note: A client's state of residence determines his or her priority list. | ||||
| Eligible Accounts | Ineligible Accounts | Conditionally Eligible Accounts* |
| Committee (not incorporated) | Bank | Non-Prototype Retirement Plan (401(a) plans) |
| Conservator (estate) | Church | IRA BDA |
| Uniform Gifts to Minors Act | Corporate | Roth BDA |
| Uniform Transfers to Minors Act | Investment Club | Trust Under Agreement |
| Guardian | Professional Association | Trust Under Will |
| Individual | Professional Corporation | |
| Traditional IRA (Premiere Select) | Unincorporated Association | |
| Roth IRA (Premiere Select) | Limited Liability Corporation | |
| Rollover IRA (Premiere Select) | Money Purchase Keogh (Premiere Select) | |
| SEP IRA (Premiere Select) | Voluntary Money Purchase Keogh (Premiere Select) | |
| SIMPLE IRA (Premiere Select) | Profit-Sharing Keogh (Premiere Select) | |
| Non-Prototype IRA | Voluntary Profit-Sharing Keogh (Premiere Select) | |
| Sole Proprietorship (not incorporated) | Keogh MP BDA | |
| Joint Community Property | Keogh PS BDA | |
| Joint Tenants in Common | Administrator | |
| Joint Tenants in Entirety | Executor | |
| Joint Usufruct | Partnership | |
| Joint with Rights of Survivorship | ||
| Person Representative | ||
| Transfer on Death (Individual) | ||
| Transfer on Death (Joint tenants) | ||
| Transfer on Death (Joint entity) |
*Please contact your financial advisor for more information.