Similiar Content You Might Enjoy
Any financial institution such as banks, thrifts or credit unions that accepts consumer deposits and makes loans. Financial intermediaries facilitate the movement of capital from suppliers of funds, generally consumer deposits such as checking accounts, CDs and money market accounts and those needed funds or loans.
“Breaking the buck” occurs when a money market fund is unable to repay its $1.00 NAV per share. Since Rule 2a-7 was adopted in 1983, only once has a money market fund failed to repay the full principal amount of its shareholders’ investments. In that case, a small institutional money market fund in 1994 “broke
NexBank based in Dallas Texas is offering a new CD rate promotion open to consumers nationwide. The CD rate promotion from NexBank covers three maturities with interest rates that are head and shoulders above the national average rates for similar term CDs. Terms on the certificates are in the mid-range, between 12 and months and
In a continuing analysis of bank CDs being offered in Connecticut, the following is a review of Connecticut financial institution that offers some of the best CD rates in the state.
The Torrington Savings Bank was established in 1868 and chartered as a mutual savings bank. The mutual savings bank charter allows the bank to manage
The goal that an investor and mutual fund pursue together such as current income, long-term capital growth.
Insurance offered by a private insurance company that protects the bank against loss on a defaulted mortgage up to the limit of the policy, usually 20 to 25 percent of the loan amount. PMI is usually limited to loans with a high loan-to-value (LTV) ratio. The borrower pays the premium.
First State Community Bank is a community bank located in southeast Missouri. First State Community Bank has been a locally owned, community bank and a Farmington landmark since its grand opening as First State Bank of Farmington on May 9, 1954. The bank has grown to become the second largest banking corporation headquartered in southeast
CD rates made a small push upward during the third week of June. Interest rates in general have been heading north bound since the start of May but have not quite flowed through to savings products in general and bank CDs specifically. Positive economic news regarding employment gains, augmented auto sales, gains in retail sales
The Federal Funds Rate is the interest rate at which private financial institutions such as banks lend their reserves held at the Federal Reserve to other financial institutions overnight for short term needs.
A bank or other financial institution lends out most of the money deposited with it but also is obligated by law to keep
Reviewing bank checking account statements is an essential task for budgeting and evaluating account costs. This is also true for credit card statements and investment accounts such as savings accounts and money market account statements. Solid record keeping is the key to understanding how you can best implement a strategy to save money and reduce costs. Good
The holding of property by two or more persons so that, upon the death of one joint owner, the survivor or survivors become the owner(s); differs from tenancy in common and tenancy by the entirety.
Interest rate markets had a fairly active week. Interest rates swirled up and down as the markets continued to shrug off some of the issues in Europe and a slow U.S. economy. By the time the week came to a close, the greatest interest rate changes were in the Treasury market. Mortgage rates moved higher
The Nov. 9, 2008 Boston Globe Sunday edition contains an ad for First Republic Bank’s 5 month CD special. The 5 month CD has an interest rate of 3.85%. The minimum balance for this account is $5,000.00. This CD rate places the bank’s offer in the top 10 CD rates for Massachusetts. A quick search
Money market mutual funds had seen their yields drop steadily for most of 2008. To start the New Year, several money market mutual funds are yielding very desirable interest rates. When 2008 came to an end, the best bank CD rates were far eclipsing the best rates found on money market funds. As the credit
A financial institution that provides a broad range of services, from checking and savings accounts to business loans and credit cards. Commercial banks are different from investment banking firms, such as brokerage firms, which generally are involved in arranging for the sale of corporate or municipal securities.
Mortgage rates, CD rates and Treasury rates all moved lower going into the final days of January. The rate changes seen in bank savings and lending rates for the week ending January 23rd were relatively mild compared to the rate reductions experienced in the opening weeks of the year. Slumping rates are good news for
Wilshire State Bank is currently offering the highest six month CD rate available nationally by a rather significant sum. The six month rate presently available at Wilshire stands at 2.52%. This CD rate is a whopping 49 basis points or 49/100 of a percent above the next best six month CD rate. The average for
Interest rates moved appreciably higher at the tail end of the month of October. After staying level or trending lower through most of the month, interest rates made a rather noticeable upside move during the last two business days of the month with increases in short, medium, and long term bond rates.
Rates moved higher almost
Some banks still return the physical check, but it is not likely to last much longer. As banking moves online, so have your cancelled checks. Most large banks now will show you scanned copies of your checks within days of when they clear. Digital images of checks reduces processing time and reduces
Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as the right of set-off.