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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
A dollar denominated bond issued in the United States by foreign banks and corporations. These bonds, the U.S. equivalent of the Eurobond, pay semi-annual interest, unlike the Eurobonds, which pay annual interest, and are registered with the Securities and Exchange Commission.
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.
Before investing in a money market fund, an investor should carefully read all of the fund’s available information, including its prospectus, or profile if the fund has one, and its most recent shareholder report. A mutual fund’s prospectus explains to potential investors the fund’s investment objective. The investment objective describes the types of securities the
The value of property remaining after debts against it are deducted. For example, a home valued at $200,000 with an $150,000 mortgage has $50,000 of equity.
Transportation Alliance Bank offers a full line of products for personal and commercial banking needs. The bank was founded in 1998 and is based in Ogden, Utah. Transportation Alliance Bank, Inc. operates as a subsidiary of Flying J, Inc. As a wholly owned subsidiary of Flying J Inc., the nation’s leading retailer of diesel fuel.
The agency of the federal government that supervises all federal savings and loan associations and federally insured state-chartered savings and loan associations. The FHLBB also operates the Federal Savings and Loan Insurance Corporation, which insures accounts at federal savings and loan associations and those state-chartered associations that apply and are accepted. In addition, the
An account held in the name of a decedent that is administered by an executor or administrator of the estate.
A credit union is a financial institution that is privately owned by its members or customers. Unlike a bank, a credit union operates as a non-profit entity and does not put profitability first. Like banks, credit unions must be concerned about its deposits and lending activities and provide stability and service. Credit
The money market itself is the global financial market for short-term borrowing and lending. The money market consists of financial institutions and dealers in money and credit that are looking to either borrow funds or provide funds. The money market provides short term liquid funding for the U.S. and global financial marketplace. The money market
The average consumer knows very little about interest rates, whether it’s the present climate or the future direction of rates. Consumer ignorance is the financial institutions best friend on the road to greater profits. Interest rates greatly influence our finances, there is little we can do about or perhaps should do about it. Most bank
An individual who signs the note of another person as support for the credit of the primary signer and who becomes responsible for the obligation.
Total return is generally regarded as the best measure of fund performance because it is the most comprehensive. Total return includes dividend and capital gains distributions along with any changes in the fund’s share price. A dividend distribution comes from the interest and dividends earned by the securities held by a fund; a capital gains
An estate planning device created while you’re alive that lets you control the distribution of your estate. You transfer ownership of your property and your assets into the trust. You can serve as the trustee or you can select a person or an institution to be the trustee. If you’re the trustee,
Consumers use bank products for a variety of needs. One of the most fundamental of these needs is a place to store short-term savings. Emergency reserves are assets you may need unexpectedly on short notice. Bank products are generally considered to be on the very low end of the risk spectrum of
Online banking or internet banking can save time and possibly reduce late fees. Setting up automatic bill paying for large, recurring monthly bills will eliminate the cost of the mail, any late fees caused by oversight or late fees that may occur do to delayed mail delivery. With online bill paying you can manually request
The Old Point National Bank is a full service community bank located in Virginia. Old Point National Bank has been FDIC insured since January 1, 1934. The bank has 20 banking locations throughout Hampton Roads. For the non-Virginians, Hampton Roads is the name of both a body of water and the area of land that
Long term interest rates pulled back slightly after the close of the second full week in November. The retreat in interest rates was relatively mild compared to the fairly large spike seen in the previous week after the better than expected monthly jobs report pushed interest rates markedly higher.
For the week ending November 15, new
The term interest is used to describe the cost of using money, a right, share, or title in property.
CertusBank is running a new checking account promotion that provides a bonus for establishing a new checking account with the bank. With the CertusBank checking account promotion, new account holders can earn up to $125.00 in bonus deposits as well as an improved rate on the bank’s savings account.
The bank pays a $100.00 initial bonus