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 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 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

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
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 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
1Synchrony BankPNC Bank, N.A.Goldman Sachs BankU.S. Bank National Association
2Bank of ChinaState Bank of India - NY BranchNew York Community BankCapital One (USA), N.A.
3The Bank of East Asia, LtdManufacturers and Traders TrustBoston Private BankState Bank of India - NY Branch
4U.S. Bank National AssociationFirst Horizon BankFirst Horizon BankFirst Horizon Bank
5Manufacturers and Traders TrustBoston Private BankBank of ChinaBank of Baroda
6State Street Bank and TrustU.S. Bank National AssociationState Bank of India - NY BranchPinnacle Bank
7State Bank of India - NY BranchState Street Bank and TrustThe Bank of East Asia, LtdState Street Bank and Trust
8Capital One (USA), N.A.Capital One (USA), N.A.U.S. Bank National AssociationManufacturers and Traders Trust
9First Horizon BankBank of ChinaState Street Bank and TrustEast West Bank
10Bank of BarodaBank of BarodaAmerican Express National BankBoston Private Bank
11Boston Private BankThe Bank of East Asia, LtdWEX BankNew York Community Bank
12American Express National BankEast West BankBank of BarodaWEX Bank
13Umpqua BankAmerican Express National BankSynchrony BankBank of the West
14Bank of HopePinnacle BankManufacturers and Traders TrustAmerican Express National Bank
15East West BankSynchrony BankEast West BankSynchrony Bank
16Bank of the WestUmpqua BankCapital One (USA), N.A.Bank of Hope
17Wells Fargo Bank, N.A.Bank of HopePNC Bank, N.A.Umpqua Bank
18WEX BankWEX BankBank of the WestPNC Bank, N.A.
19Pinnacle BankNew York Community BankBank of HopeGoldman Sachs Bank
20PNC Bank, N.A.Goldman Sachs BankPinnacle BankWells Fargo Bank, N.A.
21New York Community BankBancorpSouth BankUmpqua BankBancorpSouth Bank
22Goldman Sachs BankBank of the WestBancorpSouth Bank 
22BancorpSouth BankWells Fargo Bank, N.A.Wells Fargo 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.

Eligible AccountsIneligible AccountsConditionally Eligible Accounts*
Committee (not incorporated)BankNon-Prototype Retirement Plan
(401(a) plans)
Conservator (estate)ChurchIRA BDA
Uniform Gifts to Minors ActCorporateRoth BDA
Uniform Transfers to Minors ActInvestment ClubTrust Under Agreement
GuardianProfessional AssociationTrust Under Will
IndividualProfessional 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 IRAVoluntary Profit-Sharing Keogh (Premiere Select) 
Sole Proprietorship (not incorporated)Keogh MP BDA 
Joint Community PropertyKeogh PS BDA 
Joint Tenants in CommonAdministrator 
Joint Tenants in EntiretyExecutor 
Joint UsufructPartnership 
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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