Sweep Rates Heading Lower Says New Brokerage Sweep Intelligence. Rates on brokerage sweep cash programs, already embarrasingly low, have headed even lower following the Federal Reserve's latest rate cuts. This month Crane Data launched a new monthly, Brokerage Sweep Intelligence, which tracks rates and features on FDIC-insured deposit programs, money market funds, and free credit "sweep" options at brokerages. The Crane Brokerage Sweep Index, which includes only default sweep options, declined from 2.36% to 2.27% in October, while the Crane Brokerage Cash Index, which includes money fund options as well, declined from 3.50% to 3.36%. Smith Barney reduced its rates to tie Merrill Lynch for the lowest rates on a $100K balance among all major brokerages, 1.05%, while the highest-yielding sweep rate, Raymond James, declined from 4.52% to 4.32%.

Email This Article




Use a comma or a semicolon to separate

captcha image

Money Market News Archive

2024
December
November
October
September
August
July
June
May
April
March
February
January
2023
December
November
October
September
August
July
June
May
April
March
February
January
2022
December
November
October
September
August
July
June
May
April
March
February
January
2021
December
November
October
September
August
July
June
May
April
March
February
January
2020
December
November
October
September
August
July
June
May
April
March
February
January
2019
December
November
October
September
August
July
June
May
April
March
February
January
2018
December
November
October
September
August
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016
December
November
October
September
August
July
June
May
April
March
February
January
2015
December
November
October
September
August
July
June
May
April
March
February
January
2014
December
November
October
September
August
July
June
May
April
March
February
January
2013
December
November
October
September
August
July
June
May
April
March
February
January
2012
December
November
October
September
August
July
June
May
April
March
February
January
2011
December
November
October
September
August
July
June
May
April
March
February
January
2010
December
November
October
September
August
July
June
May
April
March
February
January
2009
December
November
October
September
August
July
June
May
April
March
February
January
2008
December
November
October
September
August
July
June
May
April
March
February
January
2007
December
November
October
September
August
July
June
May
April
March
February
January
2006
December
November
October
September