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There are two primary forces constraining bank CD rates and savings rates, the low generally level of interest rates for comparable fixed income investments most notably Treasury rates and the lack of demand for depositor funds by banks as bank lending has continued at very low rate.
Bank deposit accounts such as certificates of deposit savings
The Fed does not directly control long-term interest rates including mortgage rates. However, approximately two-thirds of U.S. households own their own homes and most homeowners pay a mortgage. Mortgage interest rates therefore have a big impact on consumer behavior. The level of mortgage rates determines how much economic activity takes place in
After the moderate downward slide in short term CD rates last week, the bond market starting the week by pushing rates lower. Monday’s closing Treasury market saw further reductions in rates and an increase in bond prices across the yield curve. The six month Treasury fell one basis point or 1/100 of a percent to
An amount charged for the sale of some fund shares, usually those sold by brokers or other sales professionals. By regulation, a mutual fund sales charge may not exceed 8.5 percent of an investment purchase. The charge may vary depending on the amount invested and the fund chosen. A sales charge or
Encoding errors are generally handled by adjustments sent between banks. You should notify your bank so they can investigate the error. Generally, national banks require you to notify them of any error(s) within 30 days after the statement date. However, the time period for this prompt notification may vary by bank and State.
Your
A check on which the drawer’s signature has been forged.
Not all bank interest rates are created equal. In turbulent economic times the difference between the rates being offered on similar products between banks can be very significant. CD rates, savings account rates and money market rates will vary measurably between banks and financial institutions. As bank profits gyrate and competition intensifies, the rates promoted
There is no regulation governing how much money is required to open a new account, regardless of whether that account is a checking, savings or certificate of deposit. The minimum amount needed to open a new account is at the discretion of the individual financial institutions. They will be able to identify the
While bank savings rates were little changes for the week ending July 1, lending rates and bond rates increased dramatically. The ten year Treasury bond increased by over 30 basis points by week’s end and the two year Treasury note increased by 15. One basis point is equal to 1/100th of a percent. Staying in
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.
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
The FDIC’s two week bank closing rampage has driven the number of banks closed this year to over 100. Seven banks were closed by the FDIC on Friday July 23, 2010. This follows the six banks the FDIC shuttered in the previous week and brings the annual total of bank closings up to
AmBank is a locally owned bank, chartered in New Mexico in May of 1997. AmBank’s main branch is located in Silver City; the bank has two additional bank branches in Hurley and Bayard. AmBank offers a variety of consumer savings, transactions accounts and loan products.
The banks regular savings account requires a $100.00 minimum deposit upon
A charge assessed by a depository institution for processing transactions and maintaining accounts.
Dakota County State Bank was established on November 22, 1963 in South Sioux City, Nebraska. The bank has been FDIC insured since November 22, 1963. Dakota County State Bank is chartered as a Federal Reserve Non-member. The primary regulator is the Federal Deposit Insurance Corporation (FDIC). As of December 2008, the bank had total assets
A strip of relatively flat and normally dry land alongside a stream, river, or lake that is covered by water during a flood.
A form of payment that automatically deposits wages or benefits to a customer’s bank account.
The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder.
The equity markets have started 2012 on a very upbeat note which is putting some pressure on interest rates to finally move higher. As the week ending January 20th came to a close, mortgage rates worsened by a good margin while CD rates and credit card rates were kept in a holding pattern. The stress
An organization, usually a bank, that holds the securities and other assets of a mutual fund.
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