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With the first full week of 2012 behind us, bank CD rates started up in the same direction they ended 2011, dropping down lower. The average bank CD rate in the Selectcdrates.com weekly CD rate survey slipped lower by one basis point or 1/100th of a percent. The average CD interest rate in the weekly
CD rates were little changed going into the Memorial Day weekend. However, not all news for savers was ho hum with some CD maturities displaying a mild uptick. In the latest survey of bank CD rates conducted by SelectCDrates.com, the average yield on the top bank CDs available nationwide dipped by a very small fraction,
A basis point is a unit of measure in finance to describe the small percentage change in the interest rates of financial securities. One basis point is equivalent to 0.01% or 1/100th of a percent. If your local bank raises the interest rate on its one year CD by 25 basis points it
Always compare bank checking account charges to make sure you are not paying too much. It is not unheard of to have someone save more than $200 a year in fees by switching to a free checking account or a checking account that has no minimum balance requirement. It’s easy to review a complete list
Interest rates were one of the top subjects of discussion in the investment community for the week. Two weeks earlier, May 11 through May 15, long term Treasuries began to rise as a flood of Treasuries via new auctions were beginning to hit the market. The week that ended May 22 saw the mid term,
An international organization based in Basel, Switzerland. The Bank for International Settlement acts as a trustee for the International Monetary Fund, assists central bankers in handling monetary assets and sets international standards for banking practices.
Sente Mortgage is an independent, mortgage bank based in Austin, Texas. Sente offers several different mortgage products to consumers in the Lone State via online mortgage originations, telephone applications and direct contact through loan representative in six branches within the state. Sente Mortgage currently has fully staffed mortgage offices in Austin, Houston, Plano, New Braunfels,
Typically, the largest money market mutual fund expense is the management fee charged by the fund’s advisor, which is usually also the sponsor of the fund. This fee compensates the fund’s advisor for administering the fund and managing its portfolio.
Money market fund management fees are fees used to compensate the portfolio management team. Mutual fund
Bank CD rates continued down a path of lower yields for the week ending July 3, 2009. Even though the expectations have been for higher CD rates, banks reduced the rates offered on the majority of certificates of deposit maturities. Bank CD yields presented on the highest bank rates moved lower across all CD terms
Voluntary surrender of property, or a right to property, without attempting to reclaim it.
This 12-member committee meets eight times a year to set guidelines for the Federal Reserve regarding the sale and purchase of government securities in the open market. Its chief importance for consumers is that the FOMC can adjust the federal funds rate and the federal discount rate. Banks set their rates based on
Always compare bank interest rates and bank fees when shopping for bank products. If you think your bank fees are getting onerous and its time to compare the fees of one bank account with another, be sure to also factor in any difference in the interest rates on the accounts. If one account pays sufficiently
Wedbush Bank is headquartered in downtown Los Angeles, CA. The bank is a wholly-owned subsidiary of WEDBUSH, Inc., the parent company of Wedbush Morgan Securities. Wedbush Bank was founded in 2008. The bank is an extension of the company’s existing operations, which include a financial brokerage and investment bank, a private equity fund and an
Oregon Coast Bank is a locally owned state chartered bank headquartered in Newport, Oregon. Oregon Coast Bank has been FDIC insured since July 8, 2002. The bank is chartered as a Federal Reserve Non-member bank. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). The bank has four bank branches in Newport, Pacific
“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
The FDIC does not publish that list. Although the FDIC periodically announces the number of banks they have on the watch list, they do not believe it would be prudent to relesease the names of the banks to the public. The obvious conclusion is that the FDIC is trying to bring these banks
The Bureau of Labor Statistics of the U.S. Department of Labor released the November producer price report for November of 2008. The Producer Price Index for Finished Goods fell 2.2 percent in November, 2008. This decline followed decreases of 2.8 percent in October and 0.4 percent in September. Energy prices dropped 11.2 percent, this came
Manor Bank has been serving the local community surrounding Manor, Pennsylvania for over 100 years. The bank was established on October 2, 1902. Manor Bank has been FDIC insured since January 1, 1934. Manor Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC).
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Apart from the management fee, there are certain non-management expenses which most funds must pay. Some of the more significant in terms of amount non-management expenses are: transfer agent expenses this is usually the person you get on the other end of the phone line when you want to purchase/sell shares of a fund, custodian
Avidia Bank was formed in 2007 by a merger between two Massachusetts financial institutions, Hudson Savings Bank and Westborough Bank. Avidia Bank is chartered as a FDIC Savings Bank. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). The bank has nine bank branches located in seven towns in central Massachusetts: Hudson, Westborough,