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Bank rates were mostly unchanged with a slight bias to the downside as the second week of October and the second week of the government shut down gets underway. Digesting last week’s figures and results is a relatively easy analytical task, especially when the interest rates markets remained fairly tame as they did, but trying
A common benchmark for consumer and business loans set by banks, usually at a level 3 percentage points higher than the Fed Funds rate. The rate given to consumers on their loans is often determined as the prime rate plus a certain percentage, which represents the lender’s assessment of the risk in lending, plus
Northfield Savings Bank offers a variety of personal bank products and services for consumers in central Vermont. Northfield Savings Bank was founded in 1867 as a mutual bank that is owned by its depositors. The bank is now one of the nation’s few remaining mutual, depositor owned organizations, and the second largest bank that is
A checking account associated with a line of credit that allows a person to write checks for more than the actual balance in the account, generally with a finance charge on the overdraft.
Laddering is one fundamental strategy to protect your assets and maximize returns in a rising inflationary market. Laddering involves buying securities, in this case – bank certificate of deposits that mature at varying intervals. With this strategy your CDs with short terms will have a slightly lower rate of return than the longer
Measure of the U.S. money stock that consists of M2, time deposits of $100,000 or more at all depository institutions, term repurchase agreements in amounts of $100,000 or more, certain term Eurodollars, and balances in money market mutual funds restricted to institutional investors.
Nebraska National Bank is currently offering the best long term CD rates in Nebraska. The bank offers a 64 month CD that has an interest rate of 4.45% APY. Interest is compounded quarterly and will be credited to the account quarterly. Nebraska National Bank does not require a minimum deposit amount to open this or
The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day.
Treasury rates were unchanged on the short end of the yield, mostly lower on the long end and the one year managed to go its own way with an increase in rate.
The three month and six month Treasuries held steady with interest rates at 0.11% and 0.20%, respectively. The one year Treasury gained two basis
The answer will be somewhat dependent the needs of the individual opening the account. What features you may need versus the features I may want are likely to be quite different. None the less, before you search for the right bank and bank services some of the common considerations you have will revolve
The process of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower interest rate on the outstanding balance. Transfers are sometimes subjected to a Balance Transfer Fee.
Bank rates ran around in circles this past week with most savings and lending rates ending the week with only minor rate changes over the previous week. With a great deal of market activity taking place during the week, most borrowers and investors may have been led to believe that the interest rates shot measurably
Three more banks failed Friday, November 21, 2008. The Office of Thrift Supervision closed two California thrifts, Downey Savings & Loan and PFF Bank & Trust. The state regulators in Georgia closed Community Bank of Loganville. The Federal Deposit Insurance Corp. took all three companies into receivership.
U.S. Bancorp bought all the deposits and some of
Bank rates in Washington are our focus while the nation has its eye on the newest resident in the District of Columbia.
Washington DC is home to a quite a selection of banks offering above average CD rates. Most of these banks are small, local banks that are growing and prospering. Bank of Georgetown is a
The top CD interest rates available nationally barely budged over the past week. The highest CD rates moved lower on the week but by the smallest of increments and remain in a very tight range. The Selectcdrates.com index of the top ten CD rates for three month CDs, six month CDs, one year CDs, two
Continuing a segment on holiday reviews of banks not normally covered, we review the rates offered by MCNB Banks of West Virginia. MCNB Banks offers a wide choice of savings and lending options for consumers and businesses customers. Currently, the bank has the highest CD rate on a five year CD in West Virginia. The
This past week on Wall Street there appears to be growing belief that the economic recovery is insight. The Fed Chairman chimed in after the annual Fed conference in Wyoming that the U.S. economy has “avoided the worst” and the recovery will be “relatively slow at first”. Meanwhile the FDIC closed the doors on four
Bank certificate of deposit rates managed yet another week of declining yields. The best CD rates available nationally were lower across all CD maturities with the exception of the long term bank CDs which ended the week with a modest increase in the average interest rate.
The average of the best six month CD rates fell
From day to day, the amount of reserves a bank wants to hold may change as its deposits and transactions change. When a depositor writes a check against his account, that bank must surrender that amount in reserves to the payee’s bank for the check to clear. Reserves are constantly moving from one
While the data reported over the past week wasn’t good news for the mortgage bond market, the reports failed to make any kind of overall significant change in bank rates. The recent Fed report, fiscal cliff soap opera and economic reports did in fact move mortgage rates slightly higher, but the opposite effect was felt