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A savings account that offers a higher rate of interest in exchange for larger than normal deposits. Insured by the FDIC, these accounts have limits on the number of transactions allowed and may require higher balances to receive the higher rate of interest.
The magnetized recording of data on a magnetic strip or the process used to imprint or inscribe MICR characters on checks, deposits, and other financial instruments. Magnetic Ink Character Recognition (MICR) is a character-recognition technology adopted mainly by the banking industry to facilitate the processing of checks. Each check in encoded at the
Retail money market mutual funds are not rated by rating agencies. All of the underlying securities these funds invest in are rated by credit-rating agencies, but only institutional portfolios tend to be rated.
The possibility that a bond owner will receive his or her principal investment back from the issuer prior to the bond’s maturity date.
Generally, a national bank will redeposit the check twice. However, there are no laws that determine how many times a check has to be resubmitted or may be resubmitted.
Online banking offers savers and investors some excellent benefits. Ease-of-use, 24 hour access, and even improved interest rates and offers are just some of those benefits. Comparison-shopping makes it possible to pick the very best account for your needs, whatever those needs might be. The first step to opening an account online
Total return measures what an investor earns on an investment during a certain time period in the past. It includes interest, dividends and capital gain. Yield is measures the current income an investment is paying relative to the cost of the investment. A $100.00 CD or bond that pays interest of $10.00 every
A mutual fund whose shares are sold without a sales commission and without a 12b-1 fee of more than .25 percent per year.
Distribution of earnings to shareholders. In credit unions, it’s the money paid to members for deposits, similar to the interest banks pay to their customers for deposits
The ability to readily access invested money. The quality that makes an asset quickly and readily convertible into cash. The ability of a bank or business to meet its current obligations.
The FDIC does not insure bank products that include annuities, insurance, stocks, bonds, mutual funds, or US treasury securities. As more banks offer a variety of investment products, be clear which products do not carry the guarantee of FDIC coverage. When using bank products that are not covered by the FDIC, be sure these investment
All depository institutions, commercial banks, savings institutions, credit unions, and foreign banking entities, are required to hold reserves against certain types of deposits that they report as liabilities on their balance sheets.
More and more banking takes place in real time. This doesn’t mean that your paychecks will clear and be available the minute you deposit them, but it does mean that if you deposit the check at an ATM you may very well see a record of that deposit online by the time you get
Interest that continues to accrue on your credit card balance from the statement cycle date until the bank receives your payment. For example, if your statement cycle date was March 3 and the bank received your payment on March 13, there were ten days for which interest accrued. This amount will be posted
The Fed Funds Rate is generally considered the primary tool that the Federal Open Market Committee of the Federal Reserve uses to influence interest rates and the economy. Changes in the Fed Funds Rate will have a significant effect on bank rates by influencing the borrowing cost of banks in the overnight lending market. The cost of
Generally, a national bank will redeposit the check twice. However, there are no laws that determine how many times a check may be resubmitted.
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
A collection of securities owned by an individual or an institution, such as a mutual fund, that may include stocks, bonds, and money market securities.
Property that is offered to secure a loan or other credit and that becomes subject to seizure on default.
Short and midterm certificate of deposit rates were in a state of suspended animation for the week ending September 4, 2009. All maturities of bank CD rates held steady with the exception of the long term bank CDs. The average of the best six month CD rates, one year CD rates and two year CD rates available
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