Sweep Money Market Mutual Fund & Bank Deposit Sweep Product Rates & Bank Lists

• Liquid Insured Deposits - List of banks that participate in the FDIC bank deposit sweep product [PDF]
• Dreyfus Insured Deposits - List of banks that participate in the FDIC bank deposit sweep product [PDF]
• Interlink Insured Deposits- List of banks that participate in the FDIC eligible bank deposit sweep product [PDF]
• Insured Deposit Program- List of banks that participate in the FDIC eligible bank deposit sweep product  [PDF]

*The bank deposit sweep products themselves are NOT FDIC-insured. Rather, through a bank deposit sweep product, the cash balance in an investment account custodied by Pershing LLC (“BNY Pershing”) (“Account”) is swept into deposit accounts at various participating FDIC member banks, which are all Insured Depository Institutions (IDIs). The bank deposit sweep product balance held at the IDIs is eligible for FDIC insurance coverage up to the current maximum deposit insurance amount of $250,000 per eligible depositor at each IDI, for each eligible category of ownership or capacity pursuant to FDIC regulations, including any other balances held at that IDI directly or through other intermediaries, including other broker-dealers. Bank deposit sweep products are intended to direct the cash balance in Accounts to multiple FDIC member IDIs in a manner intended to secure pass-through FDIC insurance coverage on the bank deposit sweep product balance held by each IDI, which is an FDIC member. Subject to certain exceptions, the maximum amount of FDIC deposit insurance coverage available on the total balance in most bank deposit sweep products is currently $2.5 million for each eligible category of legal ownership pursuant to FDIC regulations. Tiered rate bank deposit sweep products are also available, which have rates that vary between investors. Rates are displayed on customer statements and available through your Introducing Broker Dealer (“IBD”) or Investment Adviser. Other bank deposit sweep products specific to certain pricing arrangements selected by an IBD or Investment Adviser are also supported. Rates on the bank deposit sweep products are displayed on customer statements and available through your IBD or Investment Adviser.
 

Risks of FDIC Eligible Bank Deposit Sweep Products

In the event there is insufficient availability of Program Banks to fully allocate your balances, there is a potential that your balance in these bank deposit sweep products may not be fully insured up to product limit of $2,500,000 in FDIC insurance coverage. In the event the Program Banks cannot accept any additional deposits, the sweep feature on your Account may be updated to prevent any further sweep deposits from your Account. If this occurs, an available cash balance in your Account would no longer be automatically invested and would remain a free credit balance in your Account.

Important Changes to Certain FDIC Eligible Bank Deposit Sweep Products Effective 02/17/26:

On or around 02/17/26 (“Effective Date”), there will be an important product feature change and administrative changes to the FDIC eligible bank deposit sweep products available to all clients (“Choice FDIC”). Choice FDIC products have a capping feature that automatically redirects any amount above the FDIC insurance limit of the product (“Excess Balance”). The current default for Excess Balances in Choice FDIC products is a Dreyfus Government money fund.

On the Effective Date, the default for Excess Balances in non-retirement accounts will change from a Dreyfus Government money fund to a free credit balance that will be eligible to receive a rate of interest aligned with Choice FDIC sweep products. As part of this change, any Excess Balance in a non-retirement account held in the current default Dreyfus Government money fund will be fully liquidated and will remain a free credit balance, the new default for non-retirement accounts. The default for Excess Balances in retirement accounts will be unchanged and will remain the current default, a Dreyfus Government Money Fund.

On the Effective Date, the following administrative changes will also be implemented due to the merger of two service providers of Choice FDIC products and a name change associated with another Choice FDIC product.

• Reich & Tang Deposit Solutions and Total Financial Solutions LLC (d/b/a Total Bank Solutions) have merged to form a new entity, R&T Deposit Solutions LLC. As a result, customer positions in Choice FDIC products supported by either of those providers will be fully liquidated and the proceeds, adjusted for any activity in the account, purchased into the corresponding new Liquid Insured Deposits products supported by R&T Deposit Solutions LLC. Customers using Total Bank Solutions products will be purchased into the same product, but reflecting the new name.
• The InterLINK Insured Deposits products will be rebranded as InterSYNC Insured Deposits, requiring similar administrative changes. On the Effective Date, customer positions in InterLINK Insured Deposits products will be fully liquidated and the proceeds, adjusted for any activity in the account, purchased into the same product, but reflecting the new name.
• As a result of the product feature change, any Excess Balance in a non-retirement account held in the current default Dreyfus Government money fund will also be fully liquidated and will remain a free credit balance, the new default for non-retirement accounts. The default for Excess Balances in retirement accounts will be unchanged and will remain the current default, a Dreyfus Government Money Fund, as described above.  

The product feature change on the Choice FDIC products will also require changes to each product’s Terms and Conditions document (“Product Disclosures”). More specifically, a new section titled “Treatment of Excess Balances” will be added and the “Secondary Sweep Option” and “Money Fund Feature” sections will be revised. The following three sections will begin to appear in all Choice FDIC Product Disclosures beginning on the Effective Date.

Treatment of Excess Balances                                                                                                                              

Once your Product balance reaches the current Product Deposit Limit of $2,490,000, Pershing, as your agent, will automatically direct any additional balance over that amount (“Excess Balance”) from your Account into the secondary sweep option selected by your IBD or your Investment Professional. If your IBD or Investment Professional has not selected a secondary sweep option on your account, any Excess Balance will be directed into the default option, which is defined by account type. Effective on or about February 17, 2026, the default for Excess Balances in non-retirement accounts is a free credit balance that will be eligible to earn a rate of interest aligned with FDIC eligible bank deposit sweep products.  Free credit balances may be used by Pershing in the conduct of its business including, but not limited to, to fund its margin lending. Free credit balances provide Pershing with a lower-cost source of funds and therefore provides a financial benefit to Pershing. In Pershing custodial retirement accounts the default secondary sweep option for the Product is a money market mutual fund (“Money Fund”), the Dreyfus Government Cash Management Service Shares Money Fund (Ticker symbol DGUXX) or, in some cases, the Dreyfus Government Cash Management Investor Shares Money Fund (Ticker symbol DGVXX). Please see the section of this Disclosure Statement titled “Money Fund Features” for additional information on the use of a Money Fund as a secondary sweep option.

Secondary Sweep Option

If your IBD or Investment Professional has selected a secondary sweep option on your account, any Excess Balance will be swept into the sweep product designated on the sweep instruction. In the event your IBD or Investment Professional has selected another FDIC eligible bank deposit sweep product as the secondary sweep option, any Excess Balance above the combined Product Deposit Limits of both products will be directed to a free credit balance that will be eligible to earn a rate of interest aligned with FDIC eligible bank deposit sweep products. The default Money Funds used as the secondary sweep option for Pershing custodial retirement accounts are the Dreyfus Government Cash Management Service Shares Money Fund (Ticker symbol DGUXX) and the Dreyfus Government Cash Management Investor Shares Money Fund (Ticker symbol DGVXX). Please see the section of this Disclosure Statement titled “Money Fund Feature” for additional information on the use of a Money Fund as a secondary sweep option.

Money Fund Feature                                                                                                                                                    

Effective on or about February 17, 2026, the default for Excess Balances in non-retirement accounts is a free credit balance that will be eligible to earn a rate of interest aligned with FDIC eligible bank deposit sweep products. Any Excess Balance will be automatically swept into the secondary sweep option in your Account that was selected by your IBD or your Investment Professional. If your IBD or your Investment Professional has not selected a secondary sweep option in your Pershing custodial retirement Account, Pershing, as your agent, will automatically sweep any Excess Balance into the Dreyfus Government Cash Management Service Shares Money Fund (Ticker symbol DGUXX) or, in some cases, the Dreyfus Government Cash Management Investor Shares Money Fund (Ticker symbol DGVXX). If the Excess Balance in your Account is swept into the default Money Fund, a prospectus will automatically be sent to you upon the initial purchase and Pershing, BNYIA, BNYSC and other BNY affiliates will earn fees on that balance. Balances in a Money Fund are not covered by FDIC insurance but are eligible for SIPC coverage up to applicable limits. You could lose money by investing in a Money Fund. Although a Money Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in a Money Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Money Fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. Although the Money Fund's board has no current intention to impose a fee upon the sale of shares, the board reserves the ability to do so after providing at least 60 days prior written notice to shareholders. Please see the “SIPC Coverage” section of this Disclosure Statement for more information on SIPC coverage.

ADDITIONAL DISCLOSURES

Balances in most bank deposit sweep products are eligible for FDIC insurance coverage and therefore not protected by the Securities Investor Protection Corporation (“SIPC”). Balances held by each bank participating in FDIC eligible bank deposit sweep products constitutes a direct obligation of the respective Program Bank and is not directly or indirectly an obligation of BNY Pershing, your IBD or your investment professional. An investment in a Money Fund is not insured or guaranteed by the FDIC or any other government agency but is included with SIPC coverage. Although Money Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investment in a Money Fund.

For additional information on any Money Fund, including investment objectives, risks, charges, and expenses, please consult the Money Fund's prospectus. Contact your financial organization for the Money Fund prospectus and read it carefully before investing.

The Money Market Mutual Fund and FDIC Eligible Bank Deposit Sweep Product Rates expressed herein above as "Seven-Day Yield" and "Interest Rate" are provided to BNY Pershing electronically on a daily basis by each of the above-identified participating Money Market Mutual Fund or FDIC Eligible Bank Sweep Product providers. BNY Pershing does not verify or guarantee the accuracy of this electronically transmitted rate information. With respect to Money Funds, please refer to the applicable Money Fund prospectus. With respect to FDIC Eligible Bank Sweep Product rates, please refer to the applicable Terms and Conditions disclosure document. Please consult with your financial organization, which will provide you with the necessary information for you to make an investment decision concerning your available cash pending further commitment. BNY Pershing is not responsible for any investment decision you make.

Free credit balances may be used by Pershing in the conduct of its business including, but not limited to, to fund its margin lending. Free credit balances provide Pershing a lower-cost source of funds and therefore provides a financial benefit to Pershing.

MONEY FUND AND BANK DEPOSIT SWEEP PRODUCT FEES AND REVENUE SHARING

Money Fund and FDIC eligible bank deposit sweep product processing fees and revenue sharing arrangements are a source of revenue for BNY Pershing and, where applicable, a source of revenue for your IBD. For the Money Funds supported on its sweep platform that BNY Pershing makes available to all IBD clients, BNY Pershing receives remuneration paid out of the total operating expenses of the Money Fund, some of which include SEC Rule 12b-1 fees. For FDIC eligible bank deposit sweep products available to all IBD clients BNY Pershing receives remuneration out of the interest paid by IDIs. In addition, BNY Pershing receives fees for providing access to its platform from Money Fund and bank deposit sweep product providers. These fees are typically paid according to an asset-based formula. In certain circumstances, BNY Pershing shares these fees. If your IBD selects a sweep product that is available to all clients, in most cases some of the fees BNY Pershing receives from the Money Fund and bank deposit sweep product providers will be shared with your IBD. BNY Pershing relies on third party service providers to support the bank deposit sweep products available to all clients and BNY Pershing and the service providers receive fees to support those products. The combined fees on the FDIC eligible bank deposit sweep products available to all clients received by all parties including BNY Pershing, the third-party service providers, and the IBD (if applicable) may not exceed 4%, or 400 basis points, on the average daily balances held in the sweep product at the IDIs. A portion of BNY Pershing’s fees are applied against costs associated with providing services, including maintaining cash sweep systems, sub-accounting services, dividend and interest calculations and posting, accounting, reconciliation, client statement preparation and mailing, tax statement preparation and mailing, marketing and distribution-related support and other services.

Additional Revenue Sharing with Affiliates

The Dreyfus Insured Deposits products, which are FDIC eligible bank deposit sweep products supported by BNY Pershing that may be offered to you by your IBD and/or Investment Adviser, operate through a private labeling arrangement with BNY Mellon Securities Corporation (“BNYSC”). BNYSC is a registered SEC investment adviser and broker-dealer, member of FINRA and SIPC, and is a subsidiary of BNY Mellon Investment Adviser, Inc. (“BNYIA”). BNYSC acts as investment adviser and Dreyfus, a division of Mellon Investments Corporation (“MIC”), serves as the sub-adviser for the Dreyfus Government Cash Management Money Fund. The Bank of New York Mellon (“TBNYM”) is a NY state-chartered bank and BNY Mellon, National Association (“BNY Mellon, N.A.”) is a national banking association. Both may participate in the Dreyfus Insured Deposits products by accepting customer funds into Deposit Accounts. BNY Pershing has appointed third party service providers and BNYSC to provide certain services with respect to the operation of these products. . BNYSC, BNYIA, TBNYM and BNY Mellon, N.A. are BNY Mellon companies. BNY Mellon is the corporate brand for The Bank of New York Mellon Corporation. It is important to note that BNY Pershing, the third-party service provider, BNYSC, BNYIA and your IBD are non-bank entities and are not FDIC members. BNY Pershing, BNY Pershing Advisor Solutions, BNYIA and BNYSC earn fees (which may or may not be account-based) based on the amount of money in the Dreyfus Insured Deposits bank deposit sweep products. BNY Pershing and BNY Pershing Advisor Solutions may earn a higher fee on balances in any of the FDIC eligible bank deposit sweep products supported on the platform than in other money market products, such as Money Funds. BNY Pershing, in its sole discretion, may share a portion of fees it earns from the support of the Dreyfus Insured Deposits bank deposit sweep products with your IBD in which case your financial organization would earn fees on balances in these products which may be higher than fees earned on other money market products, such as Money Funds. Your IBD, BNY Pershing, BNY Pershing Advisor Solutions, BNYIA and BNYSC may be affiliated with one or more Program Banks. TBNYM and BNY Mellon, N.A., in their role as participating banks, will realize an economic benefit from any Dreyfus Insured Deposits bank deposit sweep product balances allocated to them. The Program Banks, including TBNYM and BNY Mellon, N.A., do not have a duty to offer the highest rates available or rates that are comparable to Money Funds or those offered by other depository institutions. If you desire to maintain a large cash position in your Account custodied by BNY Pershing for other than a short period of time, you should contact your IBD or Investment Adviser to discuss your options.