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 March 27, 2023.

Bank Account Balance RangeInterest RateAPY
$0–$24,9990.75%0.75%
$25,000–$99,9990.75%0.75%
$100,000–$249,9991.10%1.11%
$250,000–$499,9991.25%1.26%
$500,000–$999,9991.50%1.51%
$1,000,000–$1,999,9991.75%1.76%
$2,000,000 or more2.50%2.53%

Advisory Retirement Sweep Program Interest Rates

The interest rate for your Deposit Accounts in the ARSP as of June 9, 2023, is 1.91%. The most current interest rates may be obtained from Commonwealth on this page or from your financial advisor.

Federal Funds Effective Rate

The federal funds rate as of May 5, 2023, is 5.08%.

Program Bank List as of March 16, 2023. 

PositionRegion 1Region 2Region 3Region 4
 MA, ME, NH, RI, VTCT, NYAK, CO, HI, ID, KS, MT, NE, NM, NV, OR, UT, WA, WYCA
1Goldman Sachs BankAmerican Express National BankGoldman Sachs BankGoldman Sachs Bank
2UBS Bank USAUBS Bank USAUBS Bank USAUBS Bank USA
3U.S. Bank National AssociationGoldman Sachs BankU.S. Bank National AssociationU.S. Bank National Association
4Pinnacle BankU.S. Bank National AssociationFlagstar Bank, N.A.Pinnacle Bank
5JPMorgan Chase Bank NAUmpqua BankUmpqua BankUmpqua Bank
6The Bank of East Asia, LtdCapital One, National AssociationDeutsche Bank Trust Company AmericasAmerican Express National Bank
7American Express National BankJPMorgan Chase Bank NAAmerican Express National BankState Street Bank and Trust Co
8Umpqua BankPinnacle BankPinnacle BankJPMorgan Chase Bank NA
9Synchrony BankDeutsche Bank Trust Company AmericasSynchrony BankCapital One, National Association
10Capital One, National AssociationBank of ChinaManufacturers and Traders TrustSynchrony Bank
11Bank of ChinaSynchrony BankJPMorgan Chase Bank NABank of China
12State Bank of India - NY BranchFlagstar Bank, N.A.East West BankPNC Bank, N.A.
13Bank of BarodaPNC Bank, N.A.Bank of ChinaFirst Internet Bank of Indiana
14State Street Bank and Trust CoState Bank of India - NY BranchState Bank of India - NY BranchManufacturers and Traders Trust
15Flagstar Bank, N.A.Bank of BarodaPNC Bank, N.A.The Bank of East Asia, Ltd
16PNC Bank, N.A.East West BankBMO Harris Bank N.A.State Bank of India - NY Branch
17East West BankManufacturers and Traders TrustThe Bank of East Asia, LtdFlagstar Bank, N.A.
18First Internet Bank of IndianaBMO Harris Bank N.A.Bank of BarodaEast West Bank
19Deutsche Bank Trust Company AmericasThe Bank of East Asia, LtdState Street Bank and Trust CoCitibank, N.A.
20Manufacturers and Traders TrustState Street Bank and Trust CoFirst Internet Bank of IndianaBank of Baroda
21Wells Fargo Bank, N.A.Citibank, N.A.Capital One, National AssociationDeutsche Bank Trust Company Americas
22BMO Harris Bank N.A.First Internet Bank of IndianaWells Fargo Bank, N.A.BMO Harris Bank N.A.
23First Horizon BankFirst Horizon BankFirst Horizon BankFirst Horizon Bank
24SouthEast BankWells Fargo Bank, N.A.SouthEast BankWells Fargo Bank, N.A.
25Cadence Bank, N.A.SouthEast BankCadence Bank, N.A.Cadence Bank, N.A.
26WEX BankCadence Bank, N.A.Citibank, N.A.SouthEast Bank
27Citibank, N.A.WEX BankWEX BankWEX Bank
Excess Bank List
1U.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National Association
2Citibank, N.A.Citibank, N.A.Citibank, N.A.Citibank, N.A.

Please note: A client's state of residence determines their 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 BankGoldman Sachs BankGoldman Sachs BankGoldman Sachs BankBMO Harris Bank N.A.
2American Express National BankPNC Bank, N.A.U.S. Bank National AssociationUBS Bank USAUBS Bank USA
3Goldman Sachs BankU.S. Bank National AssociationFlagstar Bank, N.A.U.S. Bank National AssociationU.S. Bank National Association
4UBS Bank USAUBS Bank USAUBS Bank USAUmpqua BankJPMorgan Chase Bank NA
5Pinnacle BankAmerican Express National BankJPMorgan Chase Bank NACitibank, N.A.Pinnacle Bank
6U.S. Bank National AssociationPinnacle BankAmerican Express National BankAmerican Express National BankSynchrony Bank
7Umpqua BankThe Bank of East Asia, LtdUmpqua BankState Bank of India - NY BranchUmpqua Bank
8Capital One, National AssociationJPMorgan Chase Bank NAPinnacle BankPinnacle BankBank of China
9The Bank of East Asia, LtdState Bank of India - NY BranchBank of BarodaBank of BarodaEast West Bank
10Flagstar Bank, N.A.Umpqua BankSynchrony BankSynchrony BankPNC Bank, N.A.
11Bank of ChinaSynchrony BankBMO Harris Bank N.A.State Street Bank and Trust CoCapital One, National Association
12JPMorgan Chase Bank NACitibank, N.A.Bank of ChinaFlagstar Bank, N.A.First Horizon Bank
13State Street Bank and Trust CoFlagstar Bank, N.A.PNC Bank, N.A.Capital One, National AssociationFirst Internet Bank of Indiana
14Manufacturers and Traders TrustBMO Harris Bank N.A.East West BankJPMorgan Chase Bank NAFlagstar Bank, N.A.
15Bank of BarodaBank of ChinaThe Bank of East Asia, LtdBank of ChinaBank of Baroda
16Citibank, N.A.Bank of BarodaState Bank of India - NY BranchPNC Bank, N.A.State Street Bank and Trust Co
17State Bank of India - NY BranchCapital One, National AssociationFirst Internet Bank of IndianaThe Bank of East Asia, LtdThe Bank of East Asia, Ltd
18PNC Bank, N.A.East West BankManufacturers and Traders TrustWells Fargo Bank, N.A.State Bank of India - NY Branch
19East West BankState Street Bank and Trust CoCapital One, National AssociationFirst Internet Bank of IndianaWells Fargo Bank, N.A.
20First Internet Bank of IndianaManufacturers and Traders TrustState Street Bank and Trust CoManufacturers and Traders TrustSouthEast Bank
21First Horizon BankWells Fargo Bank, N.A.First Horizon BankEast West BankCadence Bank, N.A.
22Deutsche Bank Trust Company AmericasFirst Internet Bank of IndianaWells Fargo Bank, N.A.BMO Harris Bank N.A.Deutsche Bank Trust Company Americas
23Wells Fargo Bank, N.A.SouthEast BankSouthEast BankFirst Horizon BankCitibank, N.A.
24BMO Harris Bank N.A.First Horizon BankCadence Bank, N.A.Cadence Bank, N.A.WEX Bank
25SouthEast BankCadence Bank, N.A.Deutsche Bank Trust Company AmericasDeutsche Bank Trust Company Americas 
26Cadence Bank, N.A.Deutsche Bank Trust Company AmericasWEX BankSouthEast Bank 
27WEX BankWEX BankCitibank, N.A.WEX Bank 
Excess Bank List
1U.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National AssociationU.S. Bank National Association
2Citibank, 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

 

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.

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