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Bloomberg.com has a great article discussing some of the unusually high CD rate promotions that keep popping up. The article is titled, “AIG, GMAC Help Drive Up Bank Rates Amid ‘Insanity’ for Deposits”. The theme of the article is one that has struck a chord with us for last 2-3 months. Some banks continue to
The City National Bank of Sulphur Springs is located in East Texas and has been serving the region since1889. City National Bank is one of Sulphur Springs’ oldest surviving businesses. The bank has eight full service bank branches. The bank also operates a mortgage office in Sulphur Springs. City National Bank of Sulphur Springs offers
The face amount or par value of a debt instrument where interest is paid. The interest payment is not part of the principal.
Many factors affect the rate paid on different maturity CDs. One significant factor is inflation. Inflation expectations generally result in longer interest rates being higher than shorter-term interest rates. Creditors want to be compensated for the use of their funds plus a sufficient return to compensate for the erosion of their purchasing
CD interest rates slumped this week as the long term cap on short term rates that is being held in place by the Fed, continues to keep interest rates down. The longer the Fed continues to hold short term rates lower, the more banks that offer the highest CD rates can skim a few basis
Legal claim against a property. Once the property is sold, the lien holder is then paid the amount that is owed.
While the market appears to fear the potential for rising rates and rising inflation, the bond market improved with prices up and interest rates lower. Treasury rates were lower for all maturities at the close of Thursday September 24, 2009.
The three month Treasuries fell by one basis point or 1/100 of a percent for the
A set of statutes enacted by the various States to provide consistency among the States’ commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading.
CD rates continued to move lower this past week. The average of the best national bank CD rates was down for all terms with the exception of the longer term, five year CDs. The declines were measurably smaller than last weeks move, however this may have more to do with the fact that bank rates
Money market funds are strictly regulated by the U.S. Securities and Exchange Commission (SEC) pursuant to Rule 2a-7 under the Investment Company Act of 1940. Rule 2a-7 was established to establish numerous conditions intended to stabilize a fund’s $1.00 NAV. These conditions limit risk in a money market fund’s portfolio by governing the credit
American Bankers Association. A trade association for banks and savings associations.
Technically, the Treasury yield curve can change in various ways: it can move up or down (a parallel shift), become flatter or steeper (a shift in slope), or become more or less humped in the middle (a change in curvature).
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Consider three elements of this curve. First, it shows nominal interest rates. Inflation will erode
TCF Bank is advertising their free checking account with an offer that includes $50.00 in free groceries. Stop into a TCF Bank branch and open the fee checking account with a minimum $25.00 deposit and TCF gives the account holder a free $50.00 Jewel-Osco Gift Card. The gift certificate is awarded at the time of
Charging an illegally high interest rate on a loan.
Silver Lake Bank was established in 1909 and remains a locally owned and operated bank in Topeka, Kansas. Silver Lake Bank has been FDIC insured since December 16, 1935. Silver Lake Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). At the close of 2008,
The state known as Old Dominion is home to a bank offering a 4.06% APY on a 21 month term certificate of deposit. Old Dominion is the nick name for Virginia, that an apparently the nick name of Mother of States since eight U.S presidents were born in the state. Virginia is also the home
Custer Federal opened in March of 1925 in central Nebraska. The bank specializes in commercial lending. Custer Federal Savings and Loan Association has been FDIC insured since March 21, 1935. Custer Federal Savings and Loan Association is chartered as a Savings Association. Therefore the primary regulator is the Office of Thrift Supervision (OTS). As of
Yes. Federal law allows banks to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each bank should make the decision on the type, amount, and method of calculation based on sound banking judgment and safe and sound banking
Trouble with the U.S. economy and the European debt crisis stay front and center in 2012 when it comes to the direction of interest rates. In the past week, we found out that December retail sales were disappointing with a rise of just .01 percent and Standard & Poor’s is getting ready to change the
The rule of 72 is a simplified way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return investors can get a rough estimate of how many years it will take for the initial investment to duplicate itself.
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