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ABA: The American Bankers Association
Industry Insight

Sweeps Can No Longer Be Swept Under The Rug

  • Brought to you by Curinos, Inc.
  • Published August 22, 2024

Cash sweeps are the portion of uninvested cash that is automatically transferred into what is intended to be a higher interest-earning FDIC-insured deposit account at the close of each business day. While banks have been paying up on wealth savings/MMS products over the past 18 months, many have left their cash sweeps rates nearly unchanged despite the Fed Funds target remaining over 500 bp.

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