Raymond James Cash Sweep Programs

Raymond James Bank Deposit Program

As of September 8, 2009, Raymond James implemented an enhanced multibank sweep program that:

• Provides greater Federal Deposit Insurance Corporation (FDIC) insurance coverage and
• Offers more competitive interest rates.

With the new program, available cash in your brokerage account will be deposited through the Insured Network Deposit^SM (IND^SM) service into interest-bearing deposit accounts at one or more banks, as described in the “Bank Priority Lists” section below.

• Important Disclosures about Raymond James’ Cash Sweep Programs (PDF)
• Bank Priority Lists
• Cash Sweep Program Rates

Bank Priority Lists by Region

Current priority lists by region are provided below. (See “How the priority lists work” for information on how funds flow between banks.) Banks marked with an asterisk (*) are “excess banks,” as described in “How the priority lists work.” Although you may decline to have funds deposited in any bank in the list, only one excess bank may be declined.

Updated October 29, 2009

How the Priority Lists Work

Raymond James establishes contracts with multiple banks, which are included in one or more bank priority lists. Your account’s legal address of record determines which list is used to determine the order in which your available cash in your brokerage account will be deposited into interest-bearing deposit accounts at one or more of the banks set forth on the predetermined list.

If your cash balance exceeds the FDIC insurance limit for all funds at the first bank on the list, the excess cash will be deposited in the next bank. If you still have excess cash, those funds will be deposited in the third bank Raymond James has designated. This process continues through all banks on the priority list, providing FDIC coverage up to $2.5 million, or $5 million for joint accounts. As always, you have immediate access to your funds should you wish to withdraw or reinvest them.

Your priority list may also include one or more excess banks that will accept funds from retirement accounts without limit and without regard to the maximum applicable deposit insurance amount if all banks on the priority list have received funds up to the applicable deposit limit. If all your funds are withdrawn from an excess bank, the next time your funds are available for deposit in an excess bank they may be deposited in a different excess bank. This may also apply to certain non-retirement accounts that do not elect to have excess funds swept to the Raymond James Client Interest Program, as described below.

For non-retirement accounts, if all banks on the priority list have received your funds up to the applicable deposit limit, your next available funds will be deposited in the Raymond James Client Interest Program (and covered by SIPC/Excess SIPC insurance), as long as you have not opted for an alternative.

Pending Depository Institutions

The following banks are pending final approval for the Bank Deposit Program and, given that approval, will be added to the program by mid-September.

• Fifth Third Bank
• Citibank, N.A.
• Capital One Bank (USA), N.A.

Legislation temporarily increasing deposit insurance coverage limits from $100,000 per depositor to $250,000 took effect October 3, 2008 and is currently set to expire December 31, 2013. IRAs and certain other retirement accounts insured for up to $250,000 prior to this legislation will continue to be insured for that amount after December 31, 2013, barring any further legislative changes. The deposit insurance coverage limits refer to the total of all deposits that an account holder has in the same ownership categories at each FDIC-insured institution. Visit fdic.gov for more information.