Rates Current as of Thursday February 09, 2012

The buying or selling of currency, foreign or domestic, by central banks, in order to influence market conditions or exchange rate movements.

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Accommodation Endorsement

An endorsement on a check by a bank customer put there only to get the bank to cash the check for someone else, usually a non-customer. The endorser making the accommodation doesn’t benefit from the check or otherwise use it, but agrees to pay for the check if it bounces.

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The reserves of a bank accounted by the Federal reserve which are in excess of the banks legal requirement.

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Draft

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Money Market Fund Interest Rates

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CD Rate Updates

CD Interest Rates Mildly Lower January 30, 2012

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Banking & CD FAQs

I re-deposited a check. Now the bank says that it has placed an exception hold on my funds. What does that mean?

The bank may use an exception hold on a check that was previously deposited but was returned unpaid for insufficient funds. This allows the bank to lessen the risk associated with this transaction. An exception hold may not be applied to any check (including an “official type” check) that has been returned unpaid and re-deposited

How am I notified when my bank has been closed by the FDIC?

The FDIC notifies each depositor in writing using the depositor’s address on record with the bank. This notification is mailed immediately after the bank closes. When the failed bank is acquired by another bank; the assuming bank also notifies the depositors. This notification usually is mailed with the first bank statement after the assumption.

What does the Federal Reserve do?

The Federal Reserve has three main functions. First, it provides the nations banks, thrifts and credit unions with certain services such as check processing and electronic funds transfers. Second, it is the bank for the U.S government and holds the government accounts for collections and disbursements. As part of this function it

Is my bank permitted to charge me an overdraft fee as well as a fee for each day during the period my checking account is overdrawn?

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