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It was a good week for the markets with CD rates moving marginally higher, providing the smallest level of relief for new savers, mortgage rates have slipped once again, helping new home loan borrowers and credit card rates are chugging along doing their part not to rock the boat.
Causes for celebration in the improving bank
An organization employed by a mutual fund to give professional advice on the
fund’s investments and asset management practices.
The face amount or par value of a debt instrument where interest is paid. The interest payment is not part of the principal.
When you write a check from your bank account, before making any subsequent deposits to cover the amount written, be more careful as the time it now takes to clear the funds through your checking account has been greatly reduced since the new law of Check21 was passed.
In a low yield or low interest rate environment, extending the term or maturity of fixed interest rate investments becomes increasingly risky. Inflation is a permanent facet in modern finance. Low rate environments leave little room for rates to go lower and with inflation not likely to be eradicated, rising interest rates are generally only
Treasury rates started the week with yields rising on all maturities of one year or greater. Three month and six month Treasuries held steady with interest rates of 0.14 and 0.21%, respectively. The longer term Treasuries were no so steady, the one year Treasury rate moved up a modest one basis point to close at
The amount by which the auction price of a bill, note, or bond is higher than its face value.
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
No. Unlike bank money-market funds, which tend to have lower yields, money-market mutual funds do not carry FDIC insurance.
Manor Bank has been serving the local community surrounding Manor, Pennsylvania for over 100 years. The bank was established on October 2, 1902. Manor Bank has been FDIC insured since January 1, 1934. Manor Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).
At the end
Generally, if a national bank does not return cancelled checks to its customers, the bank must either retain the cancelled checks—or maintain the capacity to provide legible copies of the checks—for seven years.
The bank must provide you with a copy of any cancelled check within a reasonable period of time from your request.
The most common ownership categories are:
These are deposit accounts owned by one person and titled in that person’s name only. An individual account is an account with only one account owner, and may be withdrawn only upon the signature of the account owner or his/her legally authorized representative. All single accounts at
Inflation is one reason interest exists; creditors must be compensated for the decline in the purchasing power. So, rates generally are high when inflation is expected to be rapid. Inflation expectations are based heavily on recent inflation. So, rates generally are continuing to be high when inflation is runs above normal historical
While U.S. Treasury rates increased last week, the top bank CD interest rates took a sizeable tumble. Not only did bank CD rates fall, bank money market rates and bank savings rates moved lower on the week as well. Mortgage rates and credit card rates, unfortunately, followed the cue of Treasuries and experienced
On Friday evening, February 6, 2009 the FDIC announced the closure of three more banks: FirstBank Financial Services of McDonough, GA; Alliance Bank of Culver City, CA and County Bank of Merced, CA. These bank failures make the seventh, eighth and ninth failure this year of a federally insured bank. 2008 was expected to be
Having been in bushiness since 1886, Peoples Trust Company has provided bank deposit and loan products to generations of families and businesses in Vermont. The Peoples Trust Company was founded by an Act of the General Assembly of the State of Vermont on November 18, 1886. Peoples Trust Company has an array of deposit and
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
The month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.
The price at which a mutual fund’s shares can be purchased. The asked or offering price includes the current net asset value (NAV) per share plus any sales charge.
To write a check for an amount that exceeds the amount on deposit in the account.