Current Rates and Tiers

Accounts opened after October 1, 2024 and accounts which hold the firm default sweep options.

Interest rates in the Insured deposit program component of the Cash Sweep Program (CSP) will be tiered based on the aggregate account balance of all accounts tied to a social security number.   This means your investment values held across same tax ID or social security number at Benjamin F. Edwards are aggregated together to identify the interest rate tier that will be utilized to calculate the interest you may receive on your CSP balances.  The Interest rate tier will be calculated on the observation date as described in the Terms and conditions.

CSP will determine the balances each business day and calculate your interest daily, which will be credited monthly.

As of Cash Sweep Rates: January 2, 2025

FDIC Insured Sweep

Interest Rate Tier 1

Total Aggregate Asset Levels: $1 – $99,999.99
Interest Rate: 0.38%
Annual Percentage Yield: 0.38%

Interest Rate Tier 2

Total Aggregate Asset Levels: $100,000 – $499,999.99
Interest Rate: 0.59%
Annual Percentage Yield: 0.59%

Interest Rate Tier 3

Total Aggregate Asset Levels: $500,000 – $999,999.99
Interest Rate: .80%
Annual Percentage Yield: .80%

Interest Rate Tier 4

Total Aggregate Asset Levels: $1,000,000 – $2,499,999.99
Interest Rate: 1.62%
Annual Percentage Yield: 1.62%

Interest Rate Tier 5

Total Aggregate Asset Levels: $2,500,000+
Interest Rate: 1.87%
Annual Percentage Yield: 1.87%

Secondary Sweep Money Market Funds – SIPC Insured*
Default Sweep Option

FEDERATED HERMES GOVT RESERVES

Acronym: FGR
Ticker: GRFXX
7 Day Yield: 3.53%

Secondary Sweep Money Market Funds – SIPC Insured*

FEDERATED HERMES CAP RESERVES

Acronym: FCR
Ticker: FRFXX
7 Day Yield: 3.65%

FEDERATED HERMES MUNI OBLIG CS

Acronym: FMCS
Ticker: MFSXX
7 Day Yield: 2.88%

PERSHING GOVERNMENT ACCOUNT

Acronym: PGR
Ticker: GRFXX
7 Day Yield: 3.53%

PERSHING PRIME RESERVES

Acronym: PPR
Ticker: FRFXX
7 Day Yield: 3.65%

FEDERATED HERMES GOVT OBLIGATIONS

Acronym: GOIL
Ticker: GOIXX
7 Day Yield: 4.35%

Expense Ratio and 12b-1 fee information can be found below.

* Federated Hermes Government Reserve Fund & Pershing Government Account
* Federated Hermes Capital Reserves and Pershing Prime Reserves
* Federated Hermes Municipal Obligations Fund
* Federated Hermes Government Obligations Fund
* The Insured Sweep Interest Rates and Aggregate Assets Levels are current, interest rates may change intramonth with market conditions.
* Benjamin F. Edwards remitted yield from administrator of the program 3.86%
* Note: Current Maximum FDIC Insurance offered through the Cash Sweep Program is $2,490,000 per account type, accounts with multiple owners are FDIC insured up to $5,000,000.

For more information about the IDPF Program, please refer to the Terms and Conditions Disclosure in the Important Disclosure section of the firm website.