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 January 22, 2021

Bank Account Balance RangeInterest RateAPY
$0–$24,9990.01%0.01%
$25,000–$99,9990.01%0.01%
$100,000–$249,9990.01%0.01%
$250,000–$499,9990.01%0.01%
$500,000–$999,9990.01%0.01%
$1,000,000–$1,999,9990.01%0.01%
$2,000,000 or more0.01%0.01%

Advisory Retirement Sweep Program Interest Rates

The interest rate for your Deposit Accounts in the ARSP as of May 7, 2021, is 0.02%. 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 March 24, 2021. Please contact your financial advisor or go to www.commonwealth.com for the most current Bank List and other information about the Programs. 

POSITIONRegion 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
1Goldman Sachs BankAmerican Express National BankGoldman Sachs BankManufacturers and Traders Trust
2Bank of ChinaBank of ChinaNew York Community BankState Street Bank and Trust
3Pinnacle BankBank of HopeFirst Horizon BankPinnacle Bank
4State Street Bank and TrustManufacturers and Traders TrustManufacturers and Traders TrustBank of Hope
5State Bank of India - NY BranchPinnacle BankState Bank of India - NY BranchBank of China
6Bank of HopeState Bank of India - NY BranchBoston Private BankBoston Private Bank
7Manufacturers and Traders TrustU.S. Bank National AssociationThe Bank of East Asia, LtdState Bank of India - NY Branch
8Bank of BarodaBoston Private BankState Street Bank and TrustSynchrony Bank
9The Bank of East Asia, LtdState Street Bank and TrustAmerican Express National BankThe Bank of East Asia, Ltd
10Umpqua BankSynchrony BankU.S. Bank National AssociationAmerican Express National Bank
11Boston Private BankBank of BarodaWEX BankUmpqua Bank
12U.S. Bank National AssociationThe Bank of East Asia, LtdBank of BarodaU.S. Bank National Association
13American Express National BankEast West BankBank of ChinaEast West Bank
14BancorpSouth BankWEX BankSynchrony BankBancorpSouth Bank
15WEX BankUmpqua BankEast West BankGoldman Sachs Bank
16Synchrony BankGoldman Sachs BankCapital One (USA), N.A.Bank of Baroda
17East West BankNew York Community BankBank of the WestWEX Bank
18PNC Bank, N.A.BancorpSouth BankPinnacle BankNew York Community Bank
19New York Community BankPNC Bank, N.A.Bank of HopePNC Bank, N.A.
20Capital One (USA), N.A.Capital One (USA), N.A.Wells Fargo Bank, N.A.Wells Fargo Bank, N.A.
21Wells Fargo Bank, N.A.Bank of the WestUmpqua BankBank of the West
22First Horizon BankWells Fargo Bank, N.A.BancorpSouth BankCapital One (USA), N.A.
23Bank of the WestFirst Horizon BankPNC Bank, N.A.First Horizon Bank
24First Internet Bank of IndianaFirst Internet Bank of IndianaFirst Internet Bank of IndianaFirst Internet Bank of Indiana
25JPMorgan Chase Bank N.A.JPMorgan Chase Bank N.A.JPMorgan Chase Bank N.A.JPMorgan Chase Bank N.A.
Excess Banks
1U.S. Bank National Association, N.AU.S. Bank National Association, N.AU.S. Bank National Association, N.AU.S. Bank National Association, N.A
2Wells 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.


 

 

 

PositionRegion 5Region 6Region 7Region 8Business
 AL, AR, AZ, KY, LA, MO, OK, TN, TXDC, DE, FL, GA, MD, MS, NC, SCIA, IL, IN, MI, MN, ND, OH, SD, WINJ, PA, VA, WV All Other 
1Synchrony BankPNC Bank, N.A.Goldman Sachs BankU.S. Bank National AssociationBank of the West
2Bank of ChinaState Bank of India - NY BranchNew York Community BankCapital One (USA), N.A.Bank of China
3The Bank of East Asia, LtdManufacturers and Traders TrustBoston Private BankState Bank of India - NY BranchWells Fargo Bank, N.A.
4U.S. Bank National AssociationFirst Horizon BankFirst Horizon BankFirst Horizon BankFirst Horizon Bank
5Manufacturers and Traders TrustBoston Private BankBank of ChinaBank of BarodaPNC Bank, N.A.
6State Street Bank and TrustU.S. Bank National AssociationState Bank of India - NY BranchPinnacle BankSynchrony Bank
7State Bank of India - NY BranchState Street Bank and TrustThe Bank of East Asia, LtdState Street Bank and TrustState Street Bank and Trust
8Capital One (USA), N.A.Capital One (USA), N.A.U.S. Bank National AssociationManufacturers and Traders TrustBank of Baroda
9First Horizon BankBank of ChinaState Street Bank and TrustEast West BankCapital One (USA), N.A.
10Bank of BarodaBank of BarodaAmerican Express National BankBoston Private BankState Bank of India
11Boston Private BankThe Bank of East Asia, LtdWEX BankNew York Community BankNew York Community Bank
12American Express National BankEast West BankBank of BarodaWEX BankEast West Bank
13Umpqua BankAmerican Express National BankSynchrony BankBank of the WestBank of Hope
14Bank of HopePinnacle BankManufacturers and Traders TrustAmerican Express National BankPinnacle Bank
15East West BankSynchrony BankEast West BankSynchrony BankBoston Private Bank
16Bank of the WestUmpqua BankCapital One (USA), N.A.Bank of HopeThe Bank of East Asia, Ltd
17Wells Fargo Bank, N.A.Bank of HopePNC Bank, N.A.Umpqua BankWEX Bank
18WEX BankWEX BankBank of the WestPNC Bank, N.A.BancorpSouth Bank
19Pinnacle BankNew York Community BankBank of HopeGoldman Sachs BankUmpqua Bank
20PNC Bank, N.A.Goldman Sachs BankPinnacle BankWells Fargo Bank, N.A.JP Morgan 
21New York Community BankBancorpSouth BankUmpqua BankBancorpSouth Bank 
22Goldman Sachs BankBank of the WestBancorpSouth BankBank of China 
23BancorpSouth BankWells Fargo Bank, N.A.Wells Fargo Bank, N.A.The Bank of East Asia, Ltd 
24First Internet Bank of IndianaFirst Internet Bank of IndianaFirst Internet Bank of IndianaFirst Internet Bank of Indiana 
25JP MorganJP MorganJP MorganJP Morgan 
Excess Bank List
1U.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National Association
2Wells Fargo Bank, N.A.Wells Fargo Bank, N.A.Wells Fargo Bank, N.A.Wells Fargo Bank, N.A.Wells Fargo Bank, NA

 

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

 

Roth IRA (Premiere Select)

Professional Corporation

 

Rollover IRA (Premiere Select)

Unincorporated Association

 

SEP IRA (Premiere Select)

Limited Liability Corporation

 

SIMPLE IRA (Premiere Select)

Administrator

 

IRA BDA

Executor

 

Roth BDA

Partnership

 

Non-Prototype IRA

 

 

Non-Prototype Retirement Plan
(401(a) plans)

 

 

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)

 

 

 

 

 

 

*Please contact your financial advisor for more information.

Our community is as strong as the communities we live in. See how we make a difference.