City National Securities CNB Bank Deposit Sweep Program
City National Securities
CNB Deposit Sweep Program
CASH LIQUIDITY, A HIGHLY COMPETITIVE RATE OF RETURN, AND FDIC INSURANCE ELIGIBILITY ALL IN ONE SWEEP OPTION
With the CNB Deposit Sweep Program at City National Securities, you’ll have all the transactional flexibility of a money market mutual fund while earning a competitive rate of return. Your balance in the program will also be eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage up to applicable limits—currently $250,000 for individual accounts and $500,000 for joint accounts—taking into consideration other accounts you have with City National Bank (City National) in the same insurable capacity.
The CNB Deposit Sweep Program automatically moves available cash balances to an interest-bearing deposit account at City National, all managed for you by City National Securities. Please note that deposit balances that exceed applicable FDIC limits will not be FDIC insured, but will still earn a highly competitive rate of interest. More information regarding FDIC insurance coverage is available at fdic.gov.
Every day after the close of transaction processing, available cash balances in your brokerage accounts will be automatically swept into an interest-bearing deposit account at City National. Your CNB Deposit Sweep Program balance will also be used to settle trades and cover checks, wires and other disbursements from your brokerage account.
In addition to FDIC insurance eligibility, the CNB Deposit Sweep Program is backed by the strength of City National. With assets of more than $50 billion, City National has a strong balance sheet, is well capitalized and has strong credit ratings:
City National Bank
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As of April 30, 2019
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City National Securities Bank Deposit Sweep Program Disclosure Document
For important information about the Bank Deposit Sweep Program, please review the City National Securities Bank Deposit Sweep Program Disclosure Document.
Please call (800) 280-1464 to speak with an Investment Officer about the benefits of working with City National Securities.
*Balances held in accounts at City National are eligible for FDIC insurance up to applicable limits, but are not covered by the Securities Investor Protection Corporation (SIPC). Your cash balance held in a money market mutual fund is not FDIC insured, but is covered by SIPC. Please review the City National Securities Bank Deposit Sweep Program Disclosure Document for more information.
- Are Not insured by the FDIC or any other federal government agency
- Are Not deposits of or guaranteed by a Bank or any Bank Affiliate
- May Lose Value