Accessible Version
Retail Sweep Behavior Since the Elimination of Reserve Requirements, Accessible Data
Figure 1. Number of Retail Sweepers, Cumulative Counts Yearend 1994 to April 2012
Cumulative Counts
| Date | Cumulative Counts |
|---|---|
| 1994m12 | 26 |
| 1995m12 | 188 |
| 1996m12 | 586 |
| 1997m12 | 945 |
| 1998m12 | 1143 |
| 1999m12 | 1280 |
| 2000m12 | 1461 |
| 2001m12 | 1618 |
| 2002m12 | 1757 |
| 2003m12 | 1888 |
| 2004m12 | 2072 |
| 2005m12 | 2325 |
| 2006m12 | 2591 |
| 2007m12 | 2815 |
| 2008m12 | 2924 |
| 2009m12 | 2947 |
| 2010m12 | 2981 |
| 2011m12 | 3009 |
| 2012m4 | 3015 |
Source: Board estimates of institutions identified as engaging in retail sweeps based on FR 2900 deposit reporting. Estimates ended in 2012.
Figure 2. Initial Amounts of Retail Sweeps, Cumulative Amounts for Jan 1994 to April 2012
Billions of U.S. dollars
| Date | Cumulative Amounts |
|---|---|
| 1994m1 | 5.29 |
| 1994m2 | 5.29 |
| 1994m3 | 5.29 |
| 1994m4 | 5.29 |
| 1994m5 | 5.29 |
| 1994m6 | 5.29 |
| 1994m7 | 5.29 |
| 1994m8 | 5.29 |
| 1994m9 | 6.77 |
| 1994m10 | 7.39 |
| 1994m11 | 7.61 |
| 1994m12 | 7.61 |
| 1995m1 | 7.62 |
| 1995m2 | 7.64 |
| 1995m3 | 7.64 |
| 1995m4 | 7.64 |
| 1995m5 | 12.64 |
| 1995m6 | 15.50 |
| 1995m7 | 16.08 |
| 1995m8 | 20.36 |
| 1995m9 | 22.95 |
| 1995m10 | 24.82 |
| 1995m11 | 27.15 |
| 1995m12 | 32.02 |
| 1996m1 | 41.00 |
| 1996m2 | 43.60 |
| 1996m3 | 47.86 |
| 1996m4 | 56.79 |
| 1996m5 | 63.75 |
| 1996m6 | 68.51 |
| 1996m7 | 76.42 |
| 1996m8 | 84.67 |
| 1996m9 | 90.72 |
| 1996m10 | 98.34 |
| 1996m11 | 104.27 |
| 1996m12 | 108.38 |
| 1997m1 | 113.53 |
| 1997m2 | 118.68 |
| 1997m3 | 124.65 |
| 1997m4 | 133.04 |
| 1997m5 | 140.48 |
| 1997m6 | 160.24 |
| 1997m7 | 163.97 |
| 1997m8 | 174.43 |
| 1997m9 | 185.37 |
| 1997m10 | 194.70 |
| 1997m11 | 197.93 |
| 1997m12 | 201.35 |
| 1998m1 | 206.39 |
| 1998m2 | 210.31 |
| 1998m3 | 214.11 |
| 1998m4 | 219.21 |
| 1998m5 | 226.58 |
| 1998m6 | 230.82 |
| 1998m7 | 237.38 |
| 1998m8 | 241.47 |
| 1998m9 | 244.55 |
| 1998m10 | 254.73 |
| 1998m11 | 258.14 |
| 1998m12 | 265.29 |
| 1999m1 | 268.92 |
| 1999m2 | 272.37 |
| 1999m3 | 273.75 |
| 1999m4 | 276.89 |
| 1999m5 | 284.14 |
| 1999m6 | 288.43 |
| 1999m7 | 298.65 |
| 1999m8 | 301.39 |
| 1999m9 | 302.44 |
| 1999m10 | 303.91 |
| 1999m11 | 306.95 |
| 1999m12 | 308.49 |
| 2000m1 | 316.97 |
| 2000m2 | 321.14 |
| 2000m3 | 332.55 |
| 2000m4 | 337.35 |
| 2000m5 | 340.49 |
| 2000m6 | 342.58 |
| 2000m7 | 345.30 |
| 2000m8 | 352.17 |
| 2000m9 | 361.19 |
| 2000m10 | 366.17 |
| 2000m11 | 371.81 |
| 2000m12 | 375.26 |
| 2001m1 | 377.29 |
| 2001m2 | 383.21 |
| 2001m3 | 391.58 |
| 2001m4 | 394.64 |
| 2001m5 | 395.97 |
| 2001m6 | 398.45 |
| 2001m7 | 404.47 |
| 2001m8 | 413.37 |
| 2001m9 | 415.96 |
| 2001m10 | 431.20 |
| 2001m11 | 435.04 |
| 2001m12 | 440.97 |
| 2002m1 | 449.54 |
| 2002m2 | 450.48 |
| 2002m3 | 456.33 |
| 2002m4 | 473.28 |
| 2002m5 | 477.05 |
| 2002m6 | 479.49 |
| 2002m7 | 482.37 |
| 2002m8 | 484.57 |
| 2002m9 | 487.22 |
| 2002m10 | 488.24 |
| 2002m11 | 492.18 |
| 2002m12 | 492.69 |
| 2003m1 | 493.88 |
| 2003m2 | 494.82 |
| 2003m3 | 496.11 |
| 2003m4 | 499.62 |
| 2003m5 | 501.15 |
| 2003m6 | 505.72 |
| 2003m7 | 509.29 |
| 2003m8 | 512.96 |
| 2003m9 | 517.25 |
| 2003m10 | 519.54 |
| 2003m11 | 530.65 |
| 2003m12 | 532.25 |
| 2004m1 | 532.90 |
| 2004m2 | 547.35 |
| 2004m3 | 548.39 |
| 2004m4 | 550.27 |
| 2004m5 | 565.22 |
| 2004m6 | 566.90 |
| 2004m7 | 568.59 |
| 2004m8 | 571.10 |
| 2004m9 | 572.17 |
| 2004m10 | 573.62 |
| 2004m11 | 596.57 |
| 2004m12 | 599.54 |
| 2005m1 | 605.30 |
| 2005m2 | 606.18 |
| 2005m3 | 615.05 |
| 2005m4 | 616.76 |
| 2005m5 | 621.68 |
| 2005m6 | 638.79 |
| 2005m7 | 642.99 |
| 2005m8 | 645.69 |
| 2005m9 | 647.59 |
| 2005m10 | 648.90 |
| 2005m11 | 651.89 |
| 2005m12 | 654.15 |
| 2006m1 | 656.56 |
| 2006m2 | 658.47 |
| 2006m3 | 660.65 |
| 2006m4 | 662.77 |
| 2006m5 | 664.88 |
| 2006m6 | 666.94 |
| 2006m7 | 673.18 |
| 2006m8 | 675.58 |
| 2006m9 | 678.77 |
| 2006m10 | 680.87 |
| 2006m11 | 682.24 |
| 2006m12 | 684.39 |
| 2007m1 | 692.12 |
| 2007m2 | 693.43 |
| 2007m3 | 694.83 |
| 2007m4 | 695.98 |
| 2007m5 | 697.37 |
| 2007m6 | 699.34 |
| 2007m7 | 703.42 |
| 2007m8 | 709.54 |
| 2007m9 | 722.01 |
| 2007m10 | 723.07 |
| 2007m11 | 724.61 |
| 2007m12 | 725.32 |
| 2008m1 | 727.56 |
| 2008m2 | 729.03 |
| 2008m3 | 731.39 |
| 2008m4 | 735.56 |
| 2008m5 | 736.35 |
| 2008m6 | 739.21 |
| 2008m7 | 742.06 |
| 2008m8 | 743.22 |
| 2008m9 | 743.85 |
| 2008m10 | 751.39 |
| 2008m11 | 752.10 |
| 2008m12 | 756.75 |
| 2009m1 | 781.48 |
| 2009m2 | 782.01 |
| 2009m3 | 782.34 |
| 2009m4 | 782.39 |
| 2009m5 | 782.61 |
| 2009m6 | 782.94 |
| 2009m7 | 783.40 |
| 2009m8 | 784.11 |
| 2009m9 | 789.04 |
| 2009m10 | 789.31 |
| 2009m11 | 800.74 |
| 2009m12 | 801.38 |
| 2010m1 | 801.90 |
| 2010m2 | 802.57 |
| 2010m3 | 823.76 |
| 2010m4 | 824.77 |
| 2010m5 | 825.51 |
| 2010m6 | 826.13 |
| 2010m7 | 830.39 |
| 2010m8 | 831.87 |
| 2010m9 | 832.63 |
| 2010m10 | 835.53 |
| 2010m11 | 835.57 |
| 2010m12 | 836.15 |
| 2011m1 | 837.51 |
| 2011m2 | 837.88 |
| 2011m3 | 838.20 |
| 2011m4 | 838.38 |
| 2011m5 | 838.66 |
| 2011m6 | 838.78 |
| 2011m7 | 842.93 |
| 2011m8 | 843.63 |
| 2011m9 | 844.04 |
| 2011m10 | 844.54 |
| 2011m11 | 844.71 |
| 2011m12 | 845.18 |
| 2012m1 | 845.33 |
| 2012m2 | 845.50 |
| 2012m3 | 845.80 |
| 2012m4 | 846.50 |
Source: Board estimates of initial amounts swept from Demand Deposits to Savings. Estimates ended in April 2012.
Figure 3. Number of Institutions that Ended Retail Sweeps, Cumulative Counts Yearend 2020 to February 2026
Count
| Date | Cumulative Counts |
|---|---|
| 2020m4 | 3 |
| 2020m5 | 9 |
| 2020m6 | 23 |
| 2020m7 | 30 |
| 2020m8 | 34 |
| 2020m9 | 37 |
| 2020m10 | 40 |
| 2020m11 | 44 |
| 2020m12 | 47 |
| 2021m1 | 55 |
| 2021m2 | 56 |
| 2021m3 | 68 |
| 2021m4 | 107 |
| 2021m5 | 110 |
| 2021m6 | 120 |
| 2021m7 | 124 |
| 2021m8 | 130 |
| 2021m9 | 137 |
| 2021m10 | 137 |
| 2021m11 | 138 |
| 2021m12 | 138 |
| 2022m1 | 143 |
| 2022m2 | 144 |
| 2022m3 | 145 |
| 2022m4 | 149 |
| 2022m5 | 152 |
| 2022m6 | 158 |
| 2022m7 | 168 |
| 2022m8 | 170 |
| 2022m9 | 171 |
| 2022m10 | 172 |
| 2022m11 | 173 |
| 2022m12 | 173 |
| 2023m1 | 177 |
| 2023m2 | 178 |
| 2023m3 | 181 |
| 2023m4 | 182 |
| 2023m5 | 183 |
| 2023m6 | 184 |
| 2023m7 | 185 |
| 2023m8 | 185 |
| 2023m9 | 186 |
| 2023m10 | 188 |
| 2023m11 | 188 |
| 2023m12 | 190 |
| 2024m1 | 192 |
| 2024m2 | 192 |
| 2024m3 | 192 |
| 2024m4 | 193 |
| 2024m5 | 194 |
| 2024m6 | 195 |
| 2024m7 | 195 |
| 2024m8 | 195 |
| 2024m9 | 195 |
| 2024m10 | 198 |
| 2024m11 | 198 |
| 2024m12 | 199 |
| 2025m1 | 204 |
| 2025m2 | 207 |
| 2025m3 | 212 |
| 2025m4 | 213 |
| 2025m5 | 214 |
| 2025m6 | 214 |
| 2025m7 | 214 |
| 2025m8 | 214 |
| 2025m9 | 215 |
| 2025m10 | 216 |
| 2025m11 | 218 |
| 2025m12 | 218 |
| 2026m1 | 219 |
| 2026m2 | 220 |
Source: Board estimates of institutions identified as discontinuing retail sweeps based on FR 2900 deposit reporting.
Figure 4. Amount of Deposits Reclassified After Discontinuance of Retail Sweep Programs, Cumulative Amounts from April 2020 to February 2026
Billions of U.S. dollars
| Date | Amounts |
|---|---|
| 2020m4 | 262.56 |
| 2020m5 | 287.24 |
| 2020m6 | 326.71 |
| 2020m7 | 335.51 |
| 2020m8 | 339.45 |
| 2020m9 | 339.54 |
| 2020m10 | 348.48 |
| 2020m11 | 654.43 |
| 2020m12 | 656.55 |
| 2021m1 | 720.98 |
| 2021m2 | 721.18 |
| 2021m3 | 728.35 |
| 2021m4 | 766.91 |
| 2021m5 | 779.21 |
| 2021m6 | 791.81 |
| 2021m7 | 794.21 |
| 2021m8 | 812.77 |
| 2021m9 | 821.25 |
| 2021m10 | 821.25 |
| 2021m11 | 821.27 |
| 2021m12 | 821.27 |
| 2022m1 | 845.97 |
| 2022m2 | 846.19 |
| 2022m3 | 846.22 |
| 2022m4 | 847.32 |
| 2022m5 | 965.24 |
| 2022m6 | 1086.36 |
| 2022m7 | 1095.73 |
| 2022m8 | 1096.54 |
| 2022m9 | 1096.66 |
| 2022m10 | 1096.66 |
| 2022m11 | 1096.71 |
| 2022m12 | 1096.71 |
| 2023m1 | 1099.77 |
| 2023m2 | 1157.2 |
| 2023m3 | 1158.35 |
| 2023m4 | 1159.19 |
| 2023m5 | 1161.31 |
| 2023m6 | 1161.36 |
| 2023m7 | 1168.07 |
| 2023m8 | 1168.07 |
| 2023m9 | 1170.77 |
| 2023m10 | 1176.53 |
| 2023m11 | 1176.53 |
| 2023m12 | 1176.87 |
| 2024m1 | 1178.35 |
| 2024m2 | 1178.35 |
| 2024m3 | 1178.35 |
| 2024m4 | 1178.51 |
| 2024m5 | 1178.81 |
| 2024m6 | 1178.92 |
| 2024m7 | 1178.92 |
| 2024m8 | 1178.92 |
| 2024m9 | 1178.92 |
| 2024m10 | 1180.46 |
| 2024m11 | 1180.46 |
| 2024m12 | 1181.87 |
| 2025m1 | 1194.72 |
| 2025m2 | 1195.92 |
| 2025m3 | 1201.48 |
| 2025m4 | 1201.5 |
| 2025m5 | 1203.06 |
| 2025m6 | 1203.06 |
| 2025m7 | 1203.06 |
| 2025m8 | 1203.06 |
| 2025m9 | 1203.16 |
| 2025m10 | 1203.25 |
| 2025m11 | 1656.86 |
| 2025m12 | 1656.86 |
| 2026m1 | 1657.36 |
| 2026m2 | 1658.65 |
Source: Staff analysis of FR 2900 deposit reporting for institutions that ended retail sweeps. Amounts reclassified from savings to demand deposits.
Last Update:
June 22, 2026