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 November 29, 2022.
Bank Account Balance Range | Interest Rate | APY |
$0–$24,999 | 0.50% | 0.50% |
$25,000–$99,999 | 0.50% | 0.50% |
$100,000–$249,999 | 0.75% | 0.75% |
$250,000–$499,999 | 1.00% | 1.00% |
$500,000–$999,999 | 1.25% | 1.25% |
$1,000,000–$1,999,999 | 1.50% | 1.50% |
$2,000,000 or more | 2.00% | 2.00% |
Advisory Retirement Sweep Program Interest Rates
The interest rate for your Deposit Accounts in the ARSP as of January 6, 2023, is 2.33%. The most current interest rates may be obtained from Commonwealth on this page or from your financial advisor.
Program Bank List as of September 7, 2022.
Position | Region 1 | Region 2 | Region 3 | Region 4 |
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MA, ME, NH, RI, VT | CT, NY | AK, CO, HI, ID, KS, MT, NE, NM, NV, OR, UT, WA, WY | CA | |
1 | Goldman Sachs Bank | American Express National Bank | Goldman Sachs Bank | Goldman Sachs Bank |
2 | U.S. Bank National Association | Citibank, N.A. | JPMorgan Chase Bank, N.A. | JPMorgan Chase Bank, N.A. |
3 | The Bank of East Asia, Ltd | U.S. Bank National Association | Deutsche Bank Trust Company Americas | Citibank, N.A. |
4 | Deutsche Bank Trust Company Americas | Deutsche Bank Trust Company Americas | Citibank, N.A. | Deutsche Bank Trust Company Americas |
5 | JPMorgan Chase Bank, N.A. | JPMorgan Chase Bank, N.A. | New York Community Bank | U.S. Bank National Association |
6 | Pinnacle Bank | Pinnacle Bank | U.S. Bank National Association | American Express National Bank |
7 | Citibank, N.A. | Bank of Hope | American Express National Bank | State Street Bank and Trust Co |
8 | Bank of Hope | Synchrony Bank | Synchrony Bank | Pinnacle Bank |
9 | American Express National Bank | Bank of China | Pinnacle Bank | Synchrony Bank |
10 | Synchrony Bank | PNC Bank, N.A. | Manufacturers and Traders Trust | Bank of Hope |
11 | Bank of China | New York Community Bank | PNC Bank, N.A. | PNC Bank, N.A. |
12 | PNC Bank, N.A. | State Bank of India – NY Branch | Bank of China | Bank of China |
13 | State Bank of India – NY Branch | East West Bank | State Bank of India – NY Branch | The Bank of East Asia, Ltd |
14 | Bank of Baroda | Bank of Baroda | The Bank of East Asia, Ltd | State Bank of India – NY Branch |
15 | State Street Bank and Trust Co. | Bank of the West | Bank of Hope | Umpqua Bank |
16 | New York Community Bank | Manufacturers and Traders Trust | Bank of Baroda | Manufacturers and Traders Trust |
17 | Bank of the West | Umpqua Bank | Bank of the West | First Horizon Bank |
18 | East West Bank | Goldman Sachs Bank | East West Bank | East West Bank |
19 | Umpqua Bank | The Bank of East Asia, Ltd | State Street Bank and Trust Co | Bank of the West |
20 | Capital One (USA), N.A. | State Street Bank and Trust Co | Umpqua Bank | Bank of Baroda |
21 | First Horizon Bank | First Internet Bank of Indiana | First Internet Bank of Indiana | Capital One (USA), N.A. |
22 | First Internet Bank of Indiana | Capital One (USA), N.A. | WEX Bank | First Internet Bank of Indiana |
23 | WEX Bank | WEX Bank | First Horizon Bank | Wells Fargo Bank, N.A. |
24 | Manufacturers and Traders Trust | First Horizon Bank | Capital One (USA), N.A. | New York Community Bank |
25 | Cadence Bank, N.A. | Cadence Bank, N.A. | Wells Fargo Bank, N.A. | Cadence Bank, N.A. |
26 | Wells Fargo Bank, N.A. | Wells Fargo Bank, N.A. | Cadence Bank, N.A. | WEX Bank |
27 | SouthEast Bank | SouthEast Bank | SouthEast Bank | SouthEast Bank |
Excess Bank List | ||||
1 | 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. |
Please note: A client's state of residence determines his or her priority list. |
Position | Region 5 | Region 6 | Region 7 | Region 8 | Business |
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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 | Goldman Sachs Bank | Bank of the West |
2 | American Express National Bank | U.S. Bank National Association | U.S. Bank National Association | Citibank, N.A. | JPMorgan Chase Bank, N.A. |
3 | Citibank, N.A. | The Bank of East Asia, Ltd | New York Community Bank | U.S. Bank National Association | Citibank, N.A. |
4 | Pinnacle Bank | American Express National Bank | JPMorgan Chase Bank, N.A. | State Bank of India – NY Branch | U.S. Bank National Association |
5 | Deutsche Bank Trust Company Americas | Pinnacle Bank | Deutsche Bank Trust Company Americas | Bank of Baroda | Synchrony Bank |
6 | U.S. Bank National Association | Citibank, N.A. | Citibank, N.A. | American Express National Bank | Pinnacle Bank |
7 | Bank of Hope | Deutsche Bank Trust Company Americas | American Express National Bank | Bank of Hope | Bank of Hope |
8 | The Bank of East Asia, Ltd | JPMorgan Chase Bank, N.A. | Synchrony Bank | New York Community Bank | East West Bank |
9 | New York Community Bank | State Bank of India - NY Branch | Pinnacle Bank | Synchrony Bank | Deutsche Bank Trust Company Americas |
10 | Bank of China | Synchrony Bank | Bank of Baroda | Pinnacle Bank | Bank of China |
11 | JPMorgan Chase Bank, N.A. | Bank of China | Bank of China | Deutsche Bank Trust Company Americas | First Horizon Bank |
12 | PNC Bank, N.A. | New York Community Bank | PNC Bank, N.A. | Bank of China | PNC Bank, N.A. |
13 | State Street Bank and Trust Co | Bank of the West | East West Bank | JPMorgan Chase Bank, N.A. | Bank of Baroda |
14 | Bank of Baroda | Bank of Baroda | Bank of the West | PNC Bank, N.A. | New York Community Bank |
15 | Manufacturers and Traders Trust | Bank of Hope | The Bank of East Asia, Ltd | Capital One (USA), N.A. | First Internet Bank of Indiana |
16 | Goldman Sachs Bank | East West Bank | State Bank of India - NY Branch | Bank of the West | State Street Bank and Trust Co |
17 | State Bank of India - NY Branch | Capital One (USA), N.A. | Bank of Hope | The Bank of East Asia, Ltd | The Bank of East Asia, Ltd |
18 | Capital One (USA), N.A. | State Street Bank and Trust Co | First Internet Bank of Indiana | Umpqua Bank | State Bank of India - NY Branch |
19 | First Horizon Bank | First Horizon Bank | Manufacturers and Traders Trust | East West Bank | WEX Bank |
20 | Umpqua Bank | Wells Fargo Bank, N.A. | State Street Bank and Trust Co | First Horizon Bank | Wells Fargo Bank, N.A. |
21 | Bank of the West | WEX Bank | Umpqua Bank | Wells Fargo Bank, N.A. | Umpqua Bank |
22 | First Internet Bank of Indiana | Goldman Sachs Bank | First Horizon Bank | State Street Bank and Trust Co | Capital One (USA), N.A. |
23 | East West Bank | Manufacturers and Traders Trust | Capital One (USA), N.A. | Manufacturers and Traders Trust | Cadence Bank, N.A. |
24 | WEX Bank | Umpqua Bank | Wells Fargo Bank, N.A. | WEX Bank | SouthEast Bank |
25 | Cadence Bank, N.A. | First Internet Bank of Indiana | WEX Bank | Cadence Bank, N.A. | |
26 | Wells Fargo Bank, N.A. | Cadence Bank, N.A. | Cadence Bank, N.A. | First Internet Bank of Indiana | |
27 | SouthEast Bank | SouthEast Bank | SouthEast Bank | SouthEast Bank | |
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.