A spirited defense of the financial industry Feb 25, 2010
Just because new financial products are often developed to bypass regulations, Litan writes, "this does not make them bad or good." (Money market mutual funds, for instance, which he praises, came about because bank interest rates used to be capped. . (Albany Times Union)
Yamaguchi Says Zero Rates Give Bank of Japan Limited Room to Fight Prices Feb 24, 2010
Yamaguchi, 58, said the facility unveiled in December is aimed at lowering longer-term interest rates in the money market by providing liquidity given that its key interest rate is effectively zero. . (Bloomberg -- Japan)
MFs hardsell MIPs as market turns volatile Feb 24, 2010
MIPs invest in debt paper, mostly corporate, or money market instruments with a maturity of approximately 24-42 months. Fund managers of these schemes shuffle the money based on the interest rate outlook. (India Times)
Exclusive: Fund investing Feb 23, 2010
It can dip into midcap stocks when it wants and tends to hold a large reserve in money market securities, or cash, for when bargains abound. Alternative: Heartland Select Value (), which takes a more bargain-hunting approach. (USA Today -- Money)
Bond Mutual Fund Investments More Than Double on `Thirst': Canada Credit Feb 23, 2010
Bond Mutual Fund Investments More Than Double: Canada Credit - Bloomberg. Updated: New York, Feb 23 05:26 London, Feb 23 10:26 Tokyo, Feb 23 19:26. (Bloomberg -- Canada)
Hatoyama, Kan Escalate Pressure on Bank of Japan to Combat Falling Prices Feb 22, 2010
6 trillion yen ($240 billion) of the securities annually to provide abundant funds in a stable manner through its money market operations. . (Bloomberg -- Japan)
SC stays probe into derivative losses of Rs 25 lakh crore Feb 20, 2010
NEW DELHI: In a major relief to the Fixed Income Money Market and Derivatives Association (Fimmda), the Supreme Court on Friday stayed the Orissa High Court order, which had directed the Central Bureau of Investigation (CBI) to conduct an inquiry into the alleged mis-selling of derivative contracts in 2007 and 2008 resulting in nations forex loss of about Rs 25 lakh crore. The association of banks, financial institutions , primary dealers in forex and insurance companies told the apex court,... (India Times)
Fidelity bank to collaborate with GJA to build capacity for journalists Feb 20, 2010
Fidelity Bank operated for eight years as Fidelity Discount House limited, a wholesale money market broker from 1998 to 2006 and to provide enhanced range of products, the shareholders decided to convert its operations into a fully fledged bank. The bank obtained a universal banking licence on June 28, 2006 from the Bank of Ghana and the bank was launched on October 6, 2006. (Ghana Web, Ghana)
What the New White House Counsel Made Last Year Feb 20, 2010
Much of it is in money market accounts, certificates of deposit, and other stable investment vehicles, though he and his wife, Anita Dunn, also own mutual funds through Fidelity, ING, Legg Mason and Vanguard. (Dunn is a partner in Squier Knapp Dunn Communications and was, until November, the White House communications director. (Law.com)
Wary of losses in Q4, PSBs book profit in bonds Feb 20, 2010
According to money market sources, state-owned banks - largest participants in the government debt market - have been actively selling shorter-tenure securities from their held-to-maturity (HTM) portfolio. This is seen as a sign they are preparing for big losses in their bond portfolio this quarter. (India Times)
Swaps Sleuths Are the Fix for Too Tangled to Fail Feb 19, 2010
The government didnt expect s collapse to cause a run on money market funds, and no one foresaw that could endanger the likes of or due to credit default swaps. That is why introduced in the Senate earlier this month to create an agency to map ties among firms while also assessing threats is a good first step toward dealing with too-tangled-to-fail banks. (Bloomberg -- Columnists)
Foreigners Purchased a Record C$109 Billion of Canada Securities Last Year Feb 19, 2010
Foreigners Bought a Record Amount of Canada Securities in 2009 - Bloomberg. Updated: New York, Feb 19 04:56 London, Feb 19 09:56 Tokyo, Feb 19 18:56. (Bloomberg -- Canada)
Dollar down on weaker global sentiment Feb 15, 2010
Implied money market rates show investors see a 40 per cent chance of the RBA raising rates by 25 basis points to 4. 0 per cent on March 2, down from 50 per cent late last week. (Sydney Morning Herald -- Business)
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Kingdom of the Netherlands—Netherlands Feb 13, 2010
Public Information Notice: IMF Executive Board Concludes 2009 Article IV Consultation with the Kingdom of the Netherlands Netherlands. Free Email Notification. (IMF News)
Whatever Volcker wants, Volcker gets? Feb 13, 2010
The list extends to money market funds, finance companies, structured investment houses, securities dealers, etc. Surely, this chain of shadow institutions cant be ignored in any reform exercise. (The Star Online, Malaysia -- Business)
Dollar hovers near 10-year high against euro Feb 12, 2010
Implied money market rates show investors betting on a 47 per cent chance of a hike in March. Rates are seen rising 104 basis points over the next 12 months. (Sydney Morning Herald -- Business)
Canada Pension Prefers Malls to Bonds, Manitoba Sells Debt: Canada Credit Feb 12, 2010
Canada Pensions Denison Prefers Malls to Bonds: Canada Credit - Bloomberg. Updated: New York, Feb 12 04:41 London, Feb 12 09:41 Tokyo, Feb 12 18:41. (Bloomberg -- Canada)
Evans Bancorp Reports Fourth Quarter Earnings Growth of 172% Feb 12, 2010
" Total deposits were $499.5 million at December 31, 2009, a decrease of 0.6% from $502.8 million at September 30, 2009 and an increase of 23.7% from $404.0 million at December 31, 2008.The year-over-year increase included $41.8 million in additional deposits gained and retained from the WVB acquisition.Additionally, organic deposit growth for the year was primarily attributable to expanding core deposits as Evans marketing strategy encompasses capturing loans that bring new deposit... (Primezone Releases)
Male employment raised by building stimulus Feb 12, 2010
8874 as the money market doubled its bets on a March rate rise. The Coalition's Treasury spokesman, Joe Hockey, called for an end to stimulus spending saying the big issue was no longer unemployment but interest rates. (Sydney Morning Herald -- Australia)
Fed chief sees rate hikes - eventually Feb 11, 2010
Strategy for reeling in stimulus money MARKET IMPACT. Fed chief sees rate hikes - eventually. (Athens Banner-Herald)
READ: Text of Bernanke's prepared remarks Feb 11, 2010
As the financial crisis spread, the continuing pullback of private funding contributed to the illiquid and even chaotic conditions in financial markets and prompted runs on various types of financial institutions, including primary dealers and money market mutual funds ... Subsequently, the Federal Reserve created facilities that proved effective in helping to stabilize other key institutions and markets, including money market mutual funds, the commercial paper market, and the asset-backed... (USA Today -- Money)
Fed in Talks With Money-Market Funds to Help Drain $1 Trillion in Reserves Feb 11, 2010
Fed in Talks With Money Market Funds to Help Drain $1 Trillion - Bloomberg ... Fed in Talks With Money Market Funds to Help Drain $1 Trillion. (Bloomberg)
Bankers Concoct Liverpudlian Stew Disguising CDO Scraps as Tasty Morsels Feb 9, 2010
With their values tied to credit- default-swap indexes, the securities promised to deliver as much as 2 percentage points more than money market rates during their 10-year life spans ... 6 percent at the three-month money market rates that prevailed when CPDOs began attracting attention in November 2006. (Bloomberg)
Don’t count out money market mutual funds Feb 7, 2010
Don t count out money market mutual funds - The Boston Globe ... Don t count out money market mutual funds ... Take money market mutual funds. (Boston Globe)
Outlook for debt investments Feb 7, 2010
With short-term interest rates expected to strengthen, following the RBI move, and the equity market turning volatile, investors are likely to switch to short-term debt (money market) schemes such as ultra short-term funds and liquid schemes. An investor with less than a 6-month investment horizon may look at investing in liquid funds. (India Times)
Best Ways to Buy and Sell Stocks Feb 5, 2010
For example, some investors are conservative and are not prepared to take a big risk with their money, in that case, investing in a money market fund might be the answer. Other investors are prepared to be more aggressive and take greater risks with the potential for greater gains. (Suite101.com)
Money Fund Assets Fell to $3.205T in Latest Week Feb 5, 2010
Total money market mutual fund assets fell by $13 ... Assets of the nation's retail money market mutual funds rose by $2 ... Assets of taxable money market funds in the retail category rose by $1. (ABC News -- Wire)
DNB Financial Corporation Announces Fourth Quarter and Full Year 2009 Results Feb 5, 2010
Core deposits, consisting of demand, money market, NOW and savings accounts, increased $69. 5 million in total or 26. (Primezone Releases)
Goldman Sachs Wimps Out in Buck-Breaking Brawl Feb 3, 2010
Updated: New York, Feb 03 05:47 London, Feb 03 10:47 Tokyo, Feb 03 19:47. Commentary by David Reilly. (Bloomberg -- Columnists)
SEBI asks MFs to give mark-to-market value of securities Feb 3, 2010
MUMBAI: Market regulator SEBI on Tuesday asked the mutual fund providers to give current market values of all debt and money market securities with residual maturity of 91 days ... Money market securities are short term instruments like treasury bills ... Market regulator SEBI on Tuesday asked the mutual fund providers to give current market values of all debt and money market securities with residual maturity of 91 days. (India Times)
Money Market Funds Can Prevent Redemptions Feb 3, 2010
Moneynews - Money Market Funds Can Now Prevent Redemptions ... Money Market Funds Can Now Prevent Redemptions ... Be careful how much cash you put in your money market fund. (Newsmax)
Uncle Sam Wants You ... Feb 2, 2010
(Potential lenders include banks, money market and mutual funds, foreign governments, and individual investors. Based on projections of where interest rates are going, the Treasury Department periodically picks up a mixture of short-term and long-term loans. (Slate)
Heritage Oaks Bancorp Reports Fourth Quarter 2009 Financial Results Feb 2, 2010
Deposit growth for the quarter was rather broad-based among categories, with increases in savings, NOW, money market and time certificates ... Core deposits (non-interest bearing DDA, NOW, savings, money market, and CD's less than $100,000) totaled approximately $657 ... The additional income earned from higher average loan and investment balances more than offset the quarter over quarter increase in interest expense, resulting from continued growth in interest checking and money market... (Primezone Releases)
Ark. gov. accepted hotel stays, flights in '09 Feb 2, 2010
Along with his state salary, Beebe reported more than $39,500 in income from bonds, certificates of deposit and a money market account. He also listed 14 holdings in certificates of deposit, bonds and a money market account totaling more than $175,000 ... Halter reported more than $280,000 in holdings, including various money market funds, stocks and mutual funds. (Pine Bluff Commercial, AR)
Poor arithmetic to hurt Prime Feb 1, 2010
MONEY market fluctuations on Friday saw the implied probability of an interest rate rise start the day at around 80 per cent, before dropping below 70 per cent by lunch time. The Australian dollar also dipped below US89 to a four-week low. (Sydney Morning Herald -- Business)
MetroCorp Bancshares, Inc. Announces Fourth Quarter 2009 Results Jan 31, 2010
Core deposits, which include demand deposits, money market accounts, savings accounts and non-jumbo certificates of deposits, grew $53. 0 million or 6. (Primezone Releases)
Bank of Japan Members Disagreed Over Inflation Range Effect, Minutes Show Jan 31, 2010
Given that the overnight call rate had been virtually at zero percent, encouraging a further decline in interest rates on term instruments in the money market would be most effective to guide borrowing costs lower, many members said. Surging Yen. (Bloomberg -- Japan)
Oritani Financial Corp. Announces 2nd Quarter Results Jan 30, 2010
Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as"may,""will,""believe,""expect," "estimate,""anticipate,""continue, or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which... (Primezone Releases)
CRR hike may take investors to FIPs Jan 30, 2010
With short-term interest rates expected to strengthen following the central banks move and the equity market turning volatile, investors are likely to switch to short-term debt (money market) schemes such as ultra short-term funds and liquid schemes ... Fund managers recommend investing in money market schemes of up to one-year maturity ... Investors could use this rise in rates this to lock in higher returns in such money market schemes, said Nandkumar Surti, CIO, JP Morgan Asset... (India Times)
Meridian Interstate Bancorp, Inc. Reports Results for the Three Months and Year Ended December 31, 2009 Jan 30, 2010
The Company successfully established an online deposit account-opening website during 2009, which contributed to an increase in money market account balances of $74 ... Money market deposits ... Money market deposits. (Primezone Releases)
Capital dilemma Jan 30, 2010
Teather pointed out that the policy response by government authorities to the capital outflows has successfully maintained money market stability and the availability of credit to the private sector while facilitating divestment transactions by foreign investors. Those investors are now returning. (The Star Online, Malaysia -- Business)
Home Federal Bancorp, Inc. Announces First Quarter Results Jan 30, 2010
However, core deposits (defined as checking, savings and money market accounts) in the Central Oregon Region totaled $71. 1 million at December 31, 2009, compared to $68. (Primezone Releases)
Developed Market Funds Suffer Investor Redemptions Jan 29, 2010
However, safe haven money market funds still proved too conservative for investors, leading to a $10 billion outflow from this sector, bringing the year-to-date total to $70. 1 billion. (ABC News -- Wire)
The Gardner Museum protects its endowment Jan 29, 2010
The Gardner was also collecting millions in contributions for its expansion plan but kept those funds invested separately, in money market funds. The idea of keeping important short-term money safe might seem like a no-brainer, and it s standard policy at many nonprofits. (Boston Globe)
How to tailor your investments to cut your 2010 tax burden Jan 29, 2010
It's better to keep your income-generating investments, such as money market funds, CDs and bonds, in a retirement account, such as a 401(k) or an IRA. Funds that are prone to regular distributions, such as those that invest in bonds, real estate investment trusts, or stocks with big dividends, are best kept in a retirement fund, too. Think twice before putting individual stocks or tax-efficient funds into a retirement account other than a Roth. (USA Today -- Money)
Heritage Commerce Corp Reports Financial Results for 2009 Jan 29, 2010
Savings and money market deposits decreased $49 ... Savings and Money Market ... Savings and money market. (Primezone Releases)
Tighter money market fund rules target cash conversions, values Jan 28, 2010
WASHINGTON - Federal regulators yesterday tightened rules for money market mutual funds to require them to hold some assets that could be easily converted to cash and to disclose new information on fund values. The Securities and Exchange Commission voted 4 to 1 at a public meeting to adopt the new rules designed to bolster protection for investors in money market funds, which hold about $3 ... SEC chairwoman Mary Schapiro said the new rules were just a first step in our efforts to strengthen... (Boston Globe)
FED STATEMENT: Read what the FOMC said Jan 28, 2010
In light of improved functioning of financial markets, the Federal Reserve will be closing the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, the Commercial Paper Funding Facility, the Primary Dealer Credit Facility, and the Term Securities Lending Facility on February 1, as previously announced. In addition, the temporary liquidity swap arrangements between the Federal Reserve and other central banks will expire on February 1. (USA Today -- Money)
Bridge Bancorp, Inc. Reports Fourth Quarter and Year End 2009 Results Jan 28, 2010
"As we assess our 2009 performance, we recognize the benefits of conservative risk management and adherence to the basic banking principles, which have served this Company well over our long history. As we look forward to celebrating our 100th anniversary in February 2010, we continue to employ prudent underwriting standards, assessing a borrower's character, ability to repay and, where applicable, collateral values when making credit decisions. As 2010 begins there is still significant economic... (Primezone Releases)
Northfield Bancorp, Inc. Announces Fourth Quarter and Year End 2009 Results; Board Declares Sixth Quarterly Cash Dividend of $0.04 Per Common Share Jan 28, 2010
7 million in core deposits (money market, transaction, passbook and statement savings) ... Savings, NOW, and money market accounts ... Savings, NOW, and money market accounts. (Primezone Releases)
Flushing Financial Corporation Reports Record Net Income for the Full Year of 2009: GAAP Net Income of $25.6 Million and Core Net Income of $26.4 Million Jan 27, 2010
" Net income for the quarter ended December 31, 2009 was $6.0 million, a decrease of $0.5 million from the $6.5 million earned in the fourth quarter of 2008.Diluted earnings per common share for the fourth quarter were $0.15, a decrease of $0.16 from the $0.31 earned in the comparable quarter a year ago. Net income for the year ended December 31, 2009 was $25.6 million, an increase of $3.3 million, or 14.8%, from the $22.3 million earned in the comparable 2008 period.Diluted earnings per... (Primezone Releases)
IDFC income plan: Open-end FoF MIP Jan 26, 2010
Fund Facts: It will allocate its funds in the manner: 65% to 100% of Net Assets in debt oriented MFs, 0% to 25% in equity oriented funds and 0% to 15% in money market instruments. An investor may take exposure in it by investing Rs5000 and in multiple of Re1 under lump-sum plan and Rs1000 under SIP.. (India Times)
How to choose a savings product Jan 23, 2010
You can choose to put your money into a fixed deposit product or money markets, or to use a call or notice account, or special savings account offered by your bank ... Simply put, when you invest in money markets, you are investing in money itself ... A money market unit trust is a collective investment scheme. (iAfrica.com)
Understand Money Market Accounts Jan 23, 2010
People often confuse Money Market Accounts offered by banks and credit unions with Money Market Fund Accounts offered by investment firms ... Bank Money Market Accounts (MMAs) are quite different to the similarly named Money Market Fund Accounts available at investment firms ... Money Market Deposit Accounts (MMDAs or MMAs). (Suite101.com)
Scared to invest? Jan 23, 2010
To get a real return, you need to invest in the stock market, in property, bonds, or money market. If you only ever put money in a bank account, you'll find it's worth less in the end because inflation has actually eroded its value. (iAfrica.com)
Zero interest rates,economic gloom Jan 22, 2010
Policymakers allowed money market rates to rise dramatically to 19% in the US, 13% in Japan, 18% in the UK. The LIBOR rose to 19 ... In contrast, the world economy in 2008-2009 was marked by near-zero money market rates in major industrial countries. (Asia Times Online)
Money Market Mutual Funds Jan 22, 2010
Low-Risk Money Market Securities Bring Low-Risk Yields. Money market funds have provided an alternative option to investors who are comfortable with both the low-risk involved, and the resultant low money market yields ... Without the integration of high-risk stocks and more variable investment instruments, money market yields do not have the potential of other mutual funds to bring in money. (Suite101.com)
Asia Stocks Slide on Obama Plan Jan 22, 2010
"There is little doubt that the president's actions are unwelcome by the financial markets, or that the president himself is clearly annoyed at the current largesse of this year's bonus round," said Sean Keane, an analyst at Triple T Consulting in Wellington and former head of money market trading at Credit Suisse in Singapore. "Whether or not this 'war' will see a real shot fired remains to be seen however, with the proposals needing Congressional approval before they can become law.". (ABC News -- Wire)
Fidelity global real assets fund Jan 21, 2010
The fund manager can also invest up to 20% assets in money market instruments and or liquid schemes. The fund has a customised benchmark comprising MSCI ACWI Industrials (20%), MSCI ACWI Real Estate (20%), MSCI ACWI Utilities (10%), MSCI ACWI Materials (20%) and MSCI ACWI Energy ((30%). (India Times)
Schwab Prices Offering at $19 a Share Jan 21, 2010
8 million, part of which it plans to use to move some client balances away from money market funds. Schwab shares closed at $19. (ABC News -- Business)
Online Brokers Request Patience Amid Rate Storm Jan 20, 2010
Overhanging the results were near-zero U.S. interest rates, which hamper the companies' ability to earn interest from assets under management, and have forced them to waive hundreds of millions in fees from money market funds this year. Daily trading slumped in the latest quarter, reflecting lower volatility and the expected holiday slowdown. (ABC News -- Wire)
Dearborn Bancorp Reports Fourth Quarter Earnings Jan 20, 2010
"market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1263997818", "close" : "1264021218", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000". Search for share prices. (Primezone Releases)
AZ State Credit Union offers online signup Jan 20, 2010
The online service includes savings, checking, money market and share certificates. We ve added the online account opening service in response to the increased consumer interest in and demand for credit unions, said Doss. (Phoenix Business Journal, AZ)
Pimco Boosts Holdings of Developed Bonds Outside U.S. to Most Since 2004 Jan 20, 2010
Cash and equivalent securities can include commercial paper, short-term government and mortgage-backed securities, short- maturity company bonds and money market derivatives, according to the site. Derivatives are financial obligations whose value is derived from an underlying asset such as debt, stocks or commodities. (Bloomberg -- Europe)
TD Ameritrade Profit Drops 26% on Trading Slowdown, Missing Estimates Jan 20, 2010
Chief Executive Officer waived fees on some money market funds after the Federal Reserve cut its benchmark rate as low as zero in December 2008. U.S. stock trading slowed 23 percent, compared with the final quarter of 2008, when the Standard & Poors 500 Index was finishing its worst year in seven decades and volatility surged to a record high. (Bloomberg -- Canada)
