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The ability to readily access invested money. The quality that makes an asset quickly and readily convertible into cash. The ability of a bank or business to meet its current obligations.
Any day on which offices of a bank are open to the public for carrying on substantially all of the bank’s business.
Great news on bank CD investments and money market accounts. Now the safety of investing in high CD rates and savings accounts is even stronger. On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. The deposit insurance coverage limits refer to the total of all
Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor’s property such as wages or bank accounts held by the third party.
While reading shopping ads in the Chicago tribune we stumble upon a bank ad offering some significant CD rates in Illinois. In the ad, Parkway Bank is promoting a 14 month CD as well as 30 month CD. The 14 month CD has a 4.08% APY. The 30 month CD has a 4.35% APY. Minimum
A little late with the post, this is the same ad that is running in several newspapers nationwide by Sovereign Bank. Here we find it in the November 20, 2008 issue of the Boston Globe. Sovereign Bank runs this advertisement promoting two different CD terms and a money market account. The first CD is for
CD interest rates offered by banks that are available nationally were little changed for the week ending September 25, 2009. Short term bank CD rates, six month and one year term CDs, were unchanged while the longer term CD rates, two year and five year terms, moved in opposite directions by a relatively very small
A bank failure is the closing of a bank by a federal or state banking regulatory agency. A bank is usually closed when it is determined that it will be unable to meet its obligations to depositors and others. The Federal Deposit Insurance Corp., which guarantees the accounts of approximately 8,500 banks and
A fund option enabling shareholders to transfer their investments from one fund
to another within the same fund family as their needs or objectives change. Typically, fund companies allow exchanges several times a year for a low or no fee.
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The average maturity of all the bonds in a bond fund’s portfolio.
Alaska is the largest U.S. state by area and 48th by population. Though the climate in Alaska can be brutally cold, there are banks in Alaska that are offering red hot CD rates to help compensate for the chill. One bank in Alaska with above average CD rates is Alaska Pacific Bank. Alaska Pacific Bank
One big difference is a money market account is an interest earned savings account that is offered by a FDIC insured financial institution. The FDIC insures up to $100,000. Whereas the money market mutual fund is based on a seven day average yield rather than an annual yield. However, the effective rate is
Unfortunately, no. While all banks are subject to the same maximum hold periods established by law and the rules issued by the Fed, each bank may make deposits available sooner. Each bank determines what its policy will be. It can make all of the funds available immediately or delay availability up to
Bank of American Fork is a locally owned and operated financial institution based in American Fork, Utah. The bank has 12 bank branches in the region including Highland, Orem, Lehi, Pleasant Grove and Spanish Fork, Salt Lake Valley, Draper, Sandy, Murray, and Riverton Utah. Bank of American Fork opened in 1913 in Utah and has
When your bank states it compounds the interest daily on a CD but it pays out that interest monthly, it is engaging in a fairly standard process. The bank calculates your interest each day on the CD and simply processes that amount as a computer entry without actually paying that interest out.
Rose Hill Bank in Kansas is offering one of the highest CD rates in the state. This community bank has current CD special with a 13 month CD that has an interest rate of 3.60% APY. The bank CD requires a minimum deposit of only $1,000.00 to earn the special rate. With a deposit of
Credit enhancements involve the process of reducing credit risk by requiring collateral, insurance, or other agreements to provide the lender or the investor as is the case with a money market fund with reassurance that it will be compensated if the issuer defaults. Credit enhancement occurs when a security’s credit quality is raised above that
Central governmental agency of the Federal Reserve System, located in Washington, DC, and composed of seven members who are appointed by the President and confirmed by the Senate. The Board is responsible for domestic and international economic analysis with other components of the System; for the conduct of monetary policy; for supervision and regulation
The legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws. There are two types of bankruptcy: Involuntary bankruptcy, one or more creditors of an insolvent debtor file a petition having the debtor declared bankrupt. Voluntary bankruptcy, the
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