The Federal Reserve plays an important role in the U.S. payments system. The twelve Federal Reserve Banks provide banking services to depository institutions and to the federal government. For depository institutions, they maintain accounts and provide various payment services, including collecting checks, electronically transferring funds, and distributing and receiving currency and coin. For the federal
Certificate of deposit rates continued their multi week descent with the week of June 12, 2009 ending on another down note. The average of the best national bank CD rates dropped for all terms with the exception of the long term, five year CD rates. Though mortgage rates rose rather substantially for the week and
Certificate of deposit rates for bank CDs available nationally were mostly lower with the exception of the long term CD rates which remained unchanged for the week ending May 29. Though interest rates were not overly active among the different terms the end result and the long term trend has been an increasing spread between
With the stock market running scared and government debt issues here and abroad putting fear into the market, interest rates remained low last week. Skittish markets generally drive funds into the Treasury market pushing Treasury rates lower which keeps a lid on the movement on most other interest rate sensitive assets in the U.S. which
CD interest rates took a mild slide for the week ending August 31, 2012. The average CD rate in the Selectcdrates.com CD rate index dipped lower by a mere 3/1000ths of a percent. The CD rate index, which measures the average rate found on the top ten best three months CD rates, six month CD
Each day, the Reserve Banks that are part of the Federal Reserve System process a large number of payment transactions resulting from the Reserve Banks’ role in providing payment services to banks and depository institutions. Because depository institutions in the aggregate generally hold a relatively small amount of funds overnight in their Reserve Bank accounts,
Short term savings refers to money that you keep out of your checking account and stash away somewhere close in case of an emergency or a planned expense in the not too distant future.
This may be a fund for something unexpectedly unhappy like car repairs, or it may be for something like college tuition in
CD interest rates were mostly unchanged over the past week however; individual CD rate terms were fairly active with some minor advances and declines across the most common CD maturities. The overall average interest rate on bank CDs did remain quite stable when averaged among the top rates for the most popular terms.
Based on the
A Money Market Fund is a mutual fund that is required by the US Securities and Exchange Commission to invest in low-risk, high quality securities. Unlike a Money Market Account, a Money Market Fund is not insured by the FDIC (Federal Deposit Insurance Corporation.) However, the underlying investments that make up the fund
If you’re a wise financial consumer, you have money in three places – your checking account to pay bills, your intermediate savings account for short-term goals and emergencies, and your long-term portfolio for retirement and other savings goals longer than five years. Your checking account should be minimal with only enough cushion to prevent
CD interest rates were, by and large, unchanged for the week. The best short term CD rates increased in yields slightly while long term CD rates moved lower. Overall, the average rate for the top ten best CD interest rates remained in check. The Selectcdrates.com composite CD rate which measures the top ten highest CD
It may surprise you to know that ATM machines were not popular when they first appeared. Consumers were wary of letting a machine handle their money, and they greatly preferred face-to-face interactions. But ATMs are much more profitable for banks as they don’t require paying a friendly smiling face to greet customers.
The long term erosion in CD rates that has occurred through most of 2010 has received a pause this week based on the date form the most recent survey of bank CD interest rates performed by Selectcdrates.com.
A pause in CD interest rate returns is welcome relief for bank CD investors but is even more
The best CD interest rates available were little changed over the past week. Based on the most recent survey of bank CD rates performed by Selectcdrates.com, the average CD rate gave up less than one basis point or 1/100th of a percent week over week. The average CD rate on the highest three month CDs,
A weak jobs report has pushed interest lowers including bank CD rates. The most recent economic reports led by the monthly jobs report has turned the tide on the string of improving economic data and brought into question the vitality of US economic recovery. Slow growth generally leads to low levels of inflation, low loan