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A type of variable loan rate involving a renewable short-term, balloon note. The interest rate on the loan is generally fixed during the term of the note, but when the balloon comes due, the lender may refinance it at a higher rate. In order for the loan to be fully amortized, periodic refinancing may
An account that has little or no activity; neither deposits nor withdrawals having been posted to the account for a significant period of time.
A debt that was not paid when due.
Peapack-Gladstone Bank is based in Gladstone, New Jersey and provides individual and business banking services in the region. Peapack-Gladstone Bank is a $1.4 billion asset, wholly owned community bank that offers a full range of banking products and services through 23 full-service branches, an online branch and a Trust division, PGB Trust & Investments.
Measure of the U.S. money stock that consists of M2, time deposits of $100,000 or more at all depository institutions, term repurchase agreements in amounts of $100,000 or more, certain term Eurodollars, and balances in money market mutual funds restricted to institutional investors.
Undertaking to act as executor, administrator, guardian, conservator, or trustee for a family trust, authorized trust, or testamentary trust, or receiver or trustee in bankruptcy.
Yes. The bank can require two forms of picture identification. Federal banking laws or regulations does not prohibit national banks from asking customers for additional identification.
The creator of a trust. Sometimes referred to as the donor.
The interest rate at which financial institutions that are members of the Federal Reserve System may borrow on a short-term basis directly to cover temporary deficiencies in the bank’s reserves. The board of directors of each Reserve Bank establish the discount rate every fourteen days subject to the approval of the Board of Governors.
Political uncertainty pushed and pulled bank rates while the Christmas holiday approached. As the week before Christmas came to a close, interest rates came well off of their high points that had been reached early in the week and started to march modestly lower. Friday’s news of a clear problem with any resolution to the
State Bank of India is the largest bank in India. The company was founded in 1806 and is based in Mumbai, India. The government of India owns approximately 63.8 percent of bank’s shares. The bank was founded in 1806 as Bank of Calcutta. The government of India nationalized State Bank of India in 1955 with
Golden State Bank previously known as Golden State Business Bank is a state chartered commercial banking institution in California. The bank opened its doors in 2003. Golden State Bank has two bank branch locations in fast growing San Bernardino and Orange County. Golden State Bank provides banking products and services in California that includes checking
Generally, a national bank will redeposit the check twice. However, there are no laws that determine how many times a check may be resubmitted.
Mortgage rates and CD rates moved a bit higher going into the shortened, Thanksgiving holiday week. The rise in interest rates was relatively modest, with larger increases seen on the savings side via higher yields on bank certificates of deposit while the consumer borrowing side as measured by bank mortgage rates were elevated only slightly.
The value of property remaining after debts against it are deducted. For example, a home valued at $200,000 with an $150,000 mortgage has $50,000 of equity.
As the market conditions for banks remain challenging, the competition among banks to increase revenue has skyrocketed. Many banks have become very aggressive and innovative as they try to lure customers and their money away from their competitors. Shop around and make sure you get the best account to suit your needs as banks have
The simplest and most narrowly defined money market fund is the Treasury only money market funds. The safest money market funds are in this category since they invest in only Treasury bills and U.S. government agency obligations that are backed by the full faith and credit of the U.S. government. Since the credit quality of
Stock prices and bond yields in mid April have continued the recent trend of moving in the opposite direction. While the stock market has been struggling, the bond market has been forging ahead higher which has pushed the interest rates tied to bonds lower. Interest rates and stocks have often followed similar paths. When money
Rates of interest paid on deposits and other investments, determined by the interaction of the supply of and demand for funds in financial markets.
Bank certificate of deposit rates were mostly lower again this past week. All bank CD terms experienced falling interest rates on the week with the exception of the five year maturity which remained unchanged. The one year and two year CD rates were especially hard hit based on the weekly survey of bank rates performed