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State Bank of Southern Utah is a community bank with branches located in southwestern Utah. Its corporate headquarters is located in Cedar City. It was established in 1957 and there are fifteen bank branches. State Bank of Southern Utah has been FDIC insured since February 2, 1959. State Bank of Southern Utah is chartered as
A trust, which may be cancelled or changed by the grantor. Only after death of the grantor does ownership of assets transfer to named beneficiaries.
The number used to identify an individual or entity for federal income tax purposes.
The last week of November saw the average for all bank certificate of deposit maturities end the month with lower yields along with bank money market account rates and bank savings account rates. With rates starting the year at relatively low levels, there were not very many economists that expected rates to fall further. However,
A self-regulatory organization with authority over firms that distribute mutual fund shares as well as other securities.
A cashier’s check is a check issued by a bank and payable to a specific person. Because a bank issues a cashier’s check, itself, the cashier’s check is paid by funds of the bank and not the depositor. Therefore, if an item is genuine, there is very little risk that the instrument will
The average maturity of all the bonds in a bond fund’s portfolio.
A service that allows the customer to write checks for an amount over and above the amount in their checking account. The protection is an agreement with a bank or other financial institution to pay insufficient items in a checking account. Funds are generally transferred from their line of credit or other designated
Federal legislation that established the Federal Reserve System.
Technically, the Treasury yield curve can change in various ways: it can move up or down (a parallel shift), become flatter or steeper (a shift in slope), or become more or less humped in the middle (a change in curvature).
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Consider three elements of this curve. First, it shows nominal interest rates. Inflation will erode
There are two broad, fundamental types of money market mutual funds available to invest in. They are grouped as institutional money market funds and retail money market funds. These two categories are furthered subdivided into taxable and tax-free money market funds. Within the tax free money market fund category, the money market funds can be
Yes, generally a national bank shall make funds deposited by cash available for withdrawal by the next day, or not later than the business day after the banking day on which the cash is deposited.
A business day is a calendar day other than a Saturday, Sunday, or a Federal holiday.
A banking day is a business
Certificate of deposit rates continued their multi week descent with the week of June 12, 2009 ending on another down note. The average of the best national bank CD rates dropped for all terms with the exception of the long term, five year CD rates. Though mortgage rates rose rather substantially for the week and
The combination of services that are offered to shareholders differs from the various money market funds. Reviewing the mutual fund literature carefully will help to determine which services are offered and which may be especially important for a particular investors needs. The following is a list of some of the features offered by money market
A depository institution’s vault cash, up to the level of its required reserves, plus balances in its reserve account but not including funds applied to its required clearing balance.
Yes. Time certificates of deposits or CDs are not completely liquid. When you buy one, you enter into a contract involving a fixed amount of money, principal, for a predetermined period of time, the term, and an agreed-upon interest rate and yield.
Banks are permitted to assess an early withdrawal penalty whenever funds from
I Bonds are a low-risk savings product sold by the U.S. Treasury as either a paper bond at a financial institution or as an electronic product in the TreasuryDirect section of savingsbonds.gov website. The bonds are similar to other Treasury bonds but these bonds are inflation linked savings bonds and the interest rate paid
Annual percentage yield is a great tool for comparing bank savings products and evaluating how much your deposit earns. APY measures the rate of return annually and takes compounding into account. For bank products like high yielding CDs, the APY measures the interest rate and how quickly that interest is paid. Shorter compounding periods leads
There are two primary forces constraining bank CD rates and savings rates, the low generally level of interest rates for comparable fixed income investments most notably Treasury rates and the lack of demand for depositor funds by banks as bank lending has continued at very low rate.
Bank deposit accounts such as certificates of deposit savings
Funds that a depository institution is required to maintain as vault cash or on deposit with a Federal Reserve Bank; required amount varies according to required reserve ratios set by the Board of Governors and the volume of liabilities that require the reserves held by the institution.
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