Rates Current as of Wednesday June 03, 2020

All depository institutions, commercial banks, savings institutions, credit unions, and foreign banking entities, are required to hold reserves against certain types of deposits that they report as liabilities on their balance sheets.

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Banking & CD FAQs

What role do boards play in overseeing money market funds?

A money market fund’s board of directors is primarily responsible for ensuring that the fund complies with the SEC’s conditions to limit risk in the fund’s portfolio. The board establishes written guidelines and procedures reasonably designed to stabilize the fund’s $1.00 NAV. The board also must exercise adequate oversight through periodic reviews of

My bank is charging high maintenance fees on my checking account. Is this legal?

Yes. Federal law allows banks to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each bank should make the decision on the type, amount, and method of calculation based on sound banking judgment and safe and sound banking

Why does a bank pay a check or debit transaction when the account is overdrawn?

National banks can either return the check unpaid or advance sufficient funds to your account to pay the check or debit item. In either case, your bank can assess an insufficient funds fee against your account.

How can I tell if a money market mutual fund holds any risky investments?

It’s hard to figure out, but the chances your money market fund owns any securities like subprime mortgage debts are minimal. The subprime crisis has been going on for three months, while a money fund portfolio turns over, on average, every 30 days. The vast majority of securities that held any kind of threat

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Do all banks hold reserves, and, if so, where do they hold them?

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