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The consumer price index dropped 1.7% on a seasonally adjusted basis last month as reported by the Bureau of Labor Statistics of the U.S. Department of Labor. Falling oil and gas prices, was the biggest catalyst for the decline in the overall index. Excluding energy, the CPI index was unchanged for November. The energy component
The best short term CD rates in California are currently sitting well above the national average rates for similar term bank CDs. The best CD rates in California are presently available at a bank with one location in Southern California. The top three month CD rate, six month CD rate, one year CD
One one-hundredth of a percentage point. The difference between 8.04 percent and 8.05 percent is one basis point.
There is a new market leader for the best six month CD rate available nationally. The highest six month CD rate is now at 2.25% which is a startling 49 basis points or 49/100 of a percent higher than the next best CD rate with a six month term.
The highest six month bank CD rate
Fed funds are unsecured loans of reserve balances at Federal Reserve Banks between depository institutions. Banks keep reserve balances at the Federal Reserve Banks to meet their reserve requirements and to clear financial transactions. Transactions in the fed funds market enable depository institutions with reserve balances in excess of reserve requirements to lend
The concluding point of our CD rate summary for the week ending August 7, 2009 was an examination of the competing camps on the future direction of CD rates and interest rates.
This past month most interest rates moved lower in nearly all categories of rates. Bank CD rates moved lower across all terms from 6
Community Business Bank in Wisconsin is an independent community bank that serves the individual and business needs of bank customers in the region. The bank is based in Sauk City, Wisconsin with an additional office in Lodi, Wisconsin. Community Business Bank has been FDIC insured since February 21, 1994. The bank is chartered as a
Online banking has become a very secure method of transacting business. Online banking can be used for funds transfers, account maintenance, bill paying and other services. Often, the interest rates on online only accounts are some of he highest rates available and this includes savings accounts, money market accounts as well as certificates of deposit.
The Wall Street Journal surveys large banks and publishes the consensus prime rate. It’s the most widely quoted measure of the prime rate, which is a common benchmark for consumer and business loans set by banks, often at a level 3 percentage points higher than the federal funds rate. The prime rate will
Amalgamated Bank was founded in 1923 by the Amalgamated Clothing Workers of America, is a commercial bank chartered in New York with nationwide service. Amalgamated Bank has bank branches in New York, California, Nevada, New Jersey and Washington, D.C. The bank a full line of commercial and individual banking services offered in the geographic areas
New Dominion Bank is running an advertisement this week for their Access CD. This CD has a term of 9 months with an APY of 3.75%. The bank waives the early withdrawal penalty after the first six days of the account term and after the first six days following any partial withdrawal. A $3,000.00 minimum
Arvest Bank in Arkansas is promoting its short term CD as super. It is the super seven month CD special. Catchy advertising text found in the Arkansas Democrat-Gazette promotes the 7-month special with 3.41% APY. This 7 month CD has no penalty for early withdrawal as long as the CD is held for 7 days
If you write a check or make a purchase for more than you have in your checking account, your bank may cover the difference. This is still an overdraft, but one where the amount that has drawn the bank accounts below the amount of available of funds in the account is paid by the
Money market mutual funds had seen their yields drop steadily for most of 2008. To start the New Year, several money market mutual funds are yielding very desirable interest rates. When 2008 came to an end, the best bank CD rates were far eclipsing the best rates found on money market funds. As the credit
Basically, an annuity is a contract between you and an insurance company. It can be classified by one or several of the following categories:
A fixed or variable underlying investment,
Deferred or immediate pay-out,
Qualified or nonqualified tax status, or
Single or flexible premium payment arrangements.
Features of Annuities
Investment Earnings are Tax Deferred
The capital gains from the investment income of
The first bank failure of 2009 was just announced. On January 16 the National Bank of Commerce, Berkeley, Illinois, was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation was named the receiver. Republic Bank of Chicago, Oak Brook, Illinois, is to assume all of the deposits of
Cole Taylor Bank, one of the top ten largest banks based in Illinois, is currently running several CD rate promotions. The promotional bank CDs are available for a limited time and while Cole Taylor bank is a Federal Reserve member bank, the CDs are marketed and made available to Illinois residents only. The bank CD
Steve Leesman from CNBC has the quote of the day when he refers to the jobs report as, “a sea of lesser negatives”.
First, the close of Thursday saw the bond market drop slightly with rising yields mostly due to the first increase in four days for the stock market. The six month Treasury rate ticked
A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default.
Mother Lode Bank is based in Sonora, California. The bank was established on July 30, 2004. Mother Lode Bank has been FDIC insured since July 30, 2004. Mother Lode Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). At the close of 2008, the bank