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The regulation, by the Federal Reserve System, of the money supply in order to maximize production and employment and stabilize prices.
“Breaking the buck” occurs when a money market fund is unable to repay its $1.00 NAV per share. Since Rule 2a-7 was adopted in 1983, only once has a money market fund failed to repay the full principal amount of its shareholders’ investments. In that case, a small institutional money market fund in 1994 “broke
All mutual funds are highly regulated by the federal government through the U.S. Securities and Exchange Commission (SEC). To protect investors, Federal law requires that all funds provide two types of documents to current and potential investors free of charge, a prospectus and a shareholder report.
Most all of the information needed to evaluate a fund
CD rates in California have fluctuated notably since the start of 2009. With drop in long term CD rates and the short term rates returning anemic yields, some of the best opportunities can be found in the mid range of CD terms. One opportunity in this range is the 18 month CD being offered by
Wilber National Bank offers a number of consumer bank products in New York including a variety of certificate of deposit options with competitive CD rates in New York. Wilber National Bank is a New York based bank that was founded in 1874 and is headquartered in Oneonta, New York. The bank has branch locations in
South Coastal Bank operates four full service bank branches and six automated teller machines along the south shore of eastern Massachusetts in Rockland, Scituate, Quincy and Braintree. The bank is an independent, mutual savings bank that is a wholly owned subsidiary of MountainOne Financial Partners.
South Coastal Bank has met the financial needs of consumers and
The person who writes a check or draft instructing the drawee to pay someone else.
Interest rates moved measurably lower after the release of the FOMC statement on September 21. The ten year US Treasury bond rate shed 11 basis points or 11/100’s of a percent between the market opening on Tuesday to the close of the day. The ten year Treasury rate started the day with a
Money market fund managers voluntarily waive fees they have a contractual right to claim. Accordingly, the effective fee charged may be substantially less than indicated in expense ratios and may vary over the year despite a constant contractual fee. Retail fund managers use fee waivers to strategically adjust net advisory fees to current realizations in
A cashier’s check is a check issued by a bank and payable to a specific person. Because a bank issues a cashier’s check, itself, the cashier’s check is paid by funds of the bank and not the depositor. Therefore, if an item is genuine, there is very little risk that the instrument will
Money market mutual funds can provide a good yield and offer check writing ability to transfer funds to a lower yielding checking account or to pay large recurring monthly bills directly. Money market mutual funds can also be a good place to park cash while you wait out a turbulent market and take time seeking
Turbotville National Bank is a community bank located in Turbotville, Pennsylvania. The bank has been FDIC insured since January 1, 1934. The bank is chartered as a National Bank and has one location in Pennsylvania. As of September 2008, the bank had total assets of $96,815,000. Through that time period, the bank had net operating
Although most investors have traditionally purchased CDs through local banks, many brokerage firms now offer CDs. The brokerage firms called deposit brokers represent various banks and offer the bank CDs as a service to their customers. Some brokered CDs offer higher CD rates due to special features or extended terms. These brokered CDs should be
As of November 26, 2008 Flagstar Bank is offering one of the best one year CD rates in Tennessee. The interest rate on a Flagstar Bank one year CD opened online is 4.20%. The minimum deposit is $500.00. Flagstar’s web site address is www.flagstar.com. The bank can be reached by phone at 800-642-0039. Flagstar Bank
Tax-exempt money market funds invest in a variety of public finance short term debt instruments that are used for the financing the needs of local public authorities or other public service organizations. In the United States, federal, state and local governments all issue paper to meet funding needs. States and local governments issue municipal paper.
A bank, often with branches, that is locally owned and operated, and is not part of a bank holding company.
Writing a check in an amount that will overdraw the account but making up the deficiency by depositing another check on another bank. For example, mailing a check for the mortgage when your checking account has insufficient funds to cover the check, but counting on receiving and depositing your paycheck before the mortgage company
Founded in March 1976, Omni National Bank is headquartered in Atlanta, Georgia. Omni National Bank is a subsidiary of Omni Financial Services, Inc., a publicly traded bank holding company. Omni Financial Services, Inc.’s common stock trades via the Pink Sheets under the symbol “OFSI.PK”.
Omni National Bank is a full-service, national bank with assets in excess
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It’s not unusual for your credit card interest rate to jump to 25 or 30 percent if you make a late payment. If you have trouble keeping track of your due dates, consider setting up an automatic payment from your checking account each month.