A bank fails and is taken over. Can the new owner slash the interest rate on your certificate of deposit? It's among the questions arising more frequently as bank failures and takeovers pick up.
Deregulation and competition have led to the introduction of many new esoteric investment products in the financial service industry. One such product is the enhanced certificate of deposit, which contains embedded interest rate options. These securities are commonly known as flex certificates of deposit. We find that these products are currently being priced in a peculiar manner. A discussion of the logical breakdown of options embedded in the flex certificate of deposit is given. We also consider why banks are willing to give away valuable interest rate options.
Finding a certificate of deposit rate offering a good return is no easy task, especially these days, when interest rates are extremely low. If you are in the market for a CD, however, several websites offer tools to help consumers track down the best rates. Here are a few sites worth visiting:
JURISDICTION/VENUE: An Arizona company was not transacting business in Ohio within the meaning of the long-arm statute simply because it had an interest in the proceeds of a certificate of deposit that happened to be located in an Ohio bank, but that otherwise arose from a financing deal for a Texas golf course; therefore, the trial court did not err in dismissing the complaint for want of personal jurisdiction. An Ohio courts assertion of jurisdiction over an Arizona company would have violated due process because the company had no relationship with Ohio but for its interest in the proceeds of a certificate of deposit located in an Ohio bank, and because the company had not availed itself of the privilege of conducting activities in Ohio or invoking the benefits and protecti...
Interest rates are sure to go up. Eventually. But until they do, you've got to be alert to avoid getting caught with a low-interest account, especially from a rolled-over certificate of deposit, as happened to this reader: While at [a local] Chase bank branch on an unrelated purpose, I decided to ask for a printout of my various accounts.
... Act? or ?Act?) to include any bank the deposits of which are insured by the Federal Deposit Insura... affiliates, be involved in conflicts of interest, concentration of resources, or other effects adve... constitute a product line (e.g., certificates of deposit) and differences in versions of the pro...
A few northern New Jersey banks are offering free checking accounts with interest rates higher than just about any savings account or certificate of deposit, and with no minimum balance. They also reimburse other bank's ATM fees as part of the deal. Here is a sampling of the offers:
Like annuities qualified retirement plans can avoid probate, offer you the ability to switch investments without incurring a tax bill. The no contribution limits and no income restrictions that annuities offer are mute benefits, given the fact that very few max out their contribution and very few earn more than the limits set forth on qualified retirement plans. Should you use annuities inside your qualified retirement plan? NO! The reason is simple. One of the primary benefits of an annuity is tax deferral. Why pay an extra fee for tax deferral when you're already receiving tax deferral from your qualified retirement plan. Annuities are an aggressively marketed financial product. Why? There's a nice commission check to be earned. There are two types of annuities-fixed annuities and var...
... paid (principal) and a minimum rate of interest. A fixed ^annuity is comparable to saving money innside a certificate of deposit or money market account. With a variabl...
Omni Bank is giving its customers another reason to root for a stellar season from the New Orleans Saints. For each team win, the bank will boost the interest rate of a six-month certificate of deposit. The bank offers an initial 5.09 percent annual yield on its CD and will increase the rate by .09 percent every time the Saints win a game. Quarterback Drew Brees is the pitchman for the CD promotion.
In this article I'll like to explain the fundamentals of annuities and the pros and the cons of annuities. I'll also share why I believe you should not consider annuities until you've exhausted other long-term investing vehicles such as individual retirement accounts (IRA's) and/or employer sponsored retirement plans (401(k)'s, 403(b)'s, 457's, etc). I'll refer to both individual retirement accounts and company sponsored retirement plans throughout this report as qualified retirement plans. Annuities are an aggressively marketed financial product. Why? There's a nice commission check to be earned. There are two types of annuities-fixed annuities and variable annuities. With a fixed annuity the insurance company guarantees the premium paid (principal) and a minimum rate of interest. A fi...
... to saving money inside of a certificate of deposit or money market account. With a variabl...
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