Sentence examples for sweep account from inspiring English sources

Be careful of so-called sweep account money funds offered by brokerage firms, which usually carry high expenses.

Indeed, this promise is comparable to what is known as a "sweep account" – an arrangement typically offered by major brokerage firms to their customers.

When big companies do bank their cash, they often use a so-called sweep account, in which the bank takes excess funds from a deposit account each day, and invests them overnight in money market funds or repurchase agreements.

Sweep accounts, however, are an inefficient and expensive way to earn interest.

But sweep accounts can be expensive, and small businesses often don't have balances big enough to make them worthwhile.

To get around this, many American banks set up "sweep accounts" that electronically funnel money to Cayman for an interest-earning overnight stay before being swept back home.

Large companies with big deposits have long been able to get around the prohibition by using so-called sweep accounts, which invest deposits in money market accounts each night and then return the funds the next day.

The party has what are called "sweep accounts," in which cash that comes in is then used to repurchase United States Treasury securities overnight, allowing the party to "collateralize" its holdings, a precautionary step the party takes when it has a lot of cash on hand, Mr. Duncan said.

Scottrade and Interactive Brokers don't offer money market sweep accounts.

Its apparatchiks claim that so-called sweep accounts where money from checking accounts is swept at the end of each day into overnight instruments with a higher rate of interest are complicating its conduct of monetary policy.

Each night its computers sweep every account looking for losses that can be "harvested".