BNY Pershing's core financial strength provides the primary measure of protection for our global client assets. Our parent company, BNY Mellon, is a leading provider of financial services for institutions, corporations, and high-net-worth individuals. While financial strength does not protect against losses due to market fluctuation, our internal controls and regulatory oversight help maintain our stability and focus.
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Understanding the Protection of Assets
Evaluation and Segregation of Assets As required, BNY Pershing segregates clients' fully paid assets from our own to ensure the return of client assets in the unlikely event of the financial failure of BNY Pershing.
Securities Investor Protection Corporation (SIPC®) Coverage BNY Pershing is a member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for cash claims). An explanatory brochure is available upon request or at SIPC.
Excess of SIPC Coverage Led by Lloyd's and Other Commercial Insurers In addition to SIPC protection, BNY Pershing provides coverage in excess of SIPC limits through certain underwriters in Lloyd's insurance market and other commercial insurers. The excess of SIPC insurance program is valid through February 10, 2025 for BNY Pershing accounts. It provides the following protection for BNY Pershing LLC’s global client assets:
An aggregate loss limit of $1 billion for eligible securities—over all client accounts
A per-client loss limit of $1.9 million for cash awaiting reinvestment—within the aggregate loss limit of $1 billion
SIPC and the excess of SIPC insurance policy do not protect against losses due to market fluctuation. An excess of SIPC claim would only arise if BNY Pershing failed financially and client assets for covered accounts—as defined by SIPC—cannot be located due to theft, misplacement, destruction, burglary, robbery, embezzlement, abstraction, failure to obtain or maintain possession or control of client securities, or to maintain the special reserve bank account required by applicable rules.
Lloyd’s currently holds an A+ rating from Standard & Poor’s® (S&P®), an A rating from A.M. Best and an AA- rating from Fitch. These ratings are based on the financial strength of the company and are subject to change by the rating agencies at any time. For more information please visit Lloyd's.
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