Similiar Content You Might Enjoy
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication. A messaging network often used for the completion of international transactions between financial institutions. These codes are used when transferring money between banks including international wire transfers with US based banks. The codes are also used for exchanging other messages between financial institutions. Each
A penalty imposed on a borrower for repaying the loan before its due date. In the case of a mortgage, this applies when there is not a prepayment clause in the mortgage note to offset the penalty.
Breaking the buck occurs when a money market fund is unable to repay its $1.00 NAV per share. There have been several incidents this year in which a manager bought securities to prevent a fund from possibly dropping below a $1.00 net asset value or breaking the buck. The only example where a
Before choosing any investment, including bank CDs, it is important to understand how the investment works and what the expected rate of return will be. The primary benefit of investing in any security type is the return on investment or income that will be received from that investment over time.
Certificates of deposit, also known as
While certificate of deposit ( CD ) rates continue to drop this year more bank are offering promotional CD rates to attract depositors. Short term CDs that are frequently for odd maturities or terms.
Most web sites that track the highest national CD rates exclude odd term bank CDs. At Selectcdrates.com the odd term CDs are
The Fed Funds Rate is generally considered the primary tool that the Federal Open Market Committee of the Federal Reserve uses to influence interest rates and the economy. Changes in the Fed Funds Rate will have a significant effect on bank rates by influencing the borrowing cost of banks in the overnight lending market. The cost of
For the week ending June 8, 2012 bank mortgages rates and credit cards moved higher while bank CD rates and money market rates moves lower. Treasury rates led the gains and were kicked up notch this week across all maturities with mortgage rates quickly following suit. The change in rates for bank CDs and money
Surprisingly positive jobs numbers released on Friday pushed long term interest rates higher. Friday’s stronger than expected employment data was disappointing for mortgage borrowers with mortgage rates jumping higher immediately following the release and was also detrimental for CD investors with bank CD rates moving in the opposite direction and closing lower on the week.
Commercial paper is a money market security issued by large banks and corporations. It is generally not used to finance long term investments but more accurately to purchase inventory or for working capital. Commercial paper may be compared as an alternative to a line of credit offered by a bank for a commercial business. Often
The ChexSystems, Inc. network is comprised of member financial institutions that regularly contribute information on mishandled checking and savings accounts to a central location. ChexSystems shares this information among member institutions to help them assess the risk of opening new accounts. ChexSystems only shares information with the member institutions; it does not decide
A line of credit that does not have a specified repayment schedule but may require a minimum payment to cover interest and contribute to paying off principal. Typical of credit card loans, checking account cash reserve or overdraft accounts that have pre-approved lines of credit.
Victory Community Bank, established in 2002, is a full service neighborhood bank. The bank is headquartered in Ft. Mitchell, KY. Victory Community Bank has three bank branch locations serving the surrounding area. Victory Community Bank has been FDIC insured since December 9, 2002. Victory Community Bank is chartered as a Savings Association. Therefore the primary
Fiscal cliff uncertainty and trouble in the Middle East pushed US Treasury rates lower for the week ending November 16, 2012. Treasury rates ended the week on a down note for most all terms from the short term, three month rates to the ten year rates. All in all, a fairly significant move in the
Money market funds or money market mutual fund is a mutual fund not insured by the FDIC. Money market mutual funds are regulated by the Securities and Exchange Commission’s under the Investment Company Act of 1940. Money market mutual funds are category of mutual funds that invest in the money market or
The required process for resolving errors involving electronic transfers to and from deposit accounts
This week’s numbers for bank rates, CD rates, mortgage rates and credit card rates were down across the board. Weak economic conditions continue to keep bank rates at historic low levels. While the economy searches for direction and more importantly, signs of sustainable growth, demand for safe and secure fixed income securities has
Jonah Bank of Wyoming was established in 2006. Jonah Bank currently has two branches in Casper and Cheyenne, Wyoming. The bank offers a variety of savings accounts, transaction accounts and loans available for both consumers and commercial activity. Consumer bank products include checking accounts, savings accounts, money market accounts, certificates of deposit, auto loans, mortgage
Level One Bank was established on October 5, 2007 and is based in Farmington Hills, Michigan. Level One Bank operates as a subsidiary of Level One Bancorp, Inc. The bank has been FDIC insured since October 5, 2007. Level One Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal
Certificates of Deposits offer guaranteed yields, flexibility, and the safety of FDIC insurance. With a bank CD, you lock in a high yield that’s guaranteed from the day you open the account until the day it matures. You know exactly what return you’ll get and when you’ll get it. Broadway Federal Bank is a community
The best CD rates available Christmas week 2014 are little changed from the previous week and down slightly from the start of the month. The SelectCDrates.com CD rate index shows the average rate among the top performers holding at 1.169 percent.
The top rates measured by SelectCDrates.com are the highest rates available by a bank in