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A money market account (MMA) or money market deposit account (MMDA) is a deposit account that pays interest based on current interest rates in the money markets. [1] The interest rates paid are generally higher than those of savings accounts and transaction accounts; however, some banks will require higher minimum balances in money market accounts to avoid monthly fees and to earn interest.
Among money market funds, Reserve Primary was especially vulnerable due to its lack of a parent company that might be able to guarantee its share price. Demands to withdraw money from the fund reached 25% of its assets by the afternoon and more than half on the following day, as clients sought to exit the fund before its Lehman assets impacted ...
This article provides the most up-to-date average money market account annual percentage yield, which is 0.49 percent, and insight as to why knowing the average money market account rate is important.
The money market is a component of the economy that provides short-term funds. The money market deals in short-term loans, generally for a period of a year or less. As short-term securities became a commodity, the money market became a component of the financial market for assets involved in short-term borrowing, lending, buying and selling with original maturities of one year or less.
Money market accounts combine the features of checking and savings accounts, but they place additional restrictions on your money, which limits their usefulness as checking account replacements ...
A money market account is a type of interest-bearing account that combines the strong rates of a high-yield savings account with the features of a checking account. MMAs offer rates of 4.5% APY or ...