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[15] [full citation needed] Some state banking regulations also contain similar lending limits applicable to state-chartered banks. [16] Both federal and state laws generally allow for a higher lending limit (up to 25% of capital and surplus for national banks) when the portion of the credit that exceeds the initial lending limit is fully secured.
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.
Regulation D was known directly to the public for its former provision that limited withdrawals or outgoing transfers from a savings or money market account. No more than six such transactions per statement period could be made from an account by various "convenient" methods, which included checks, debit card payments, and automatic transactions such as automated clearing house transfers or ...
The primary difference between a money market account and a checking account is the restrictions on how you can access your money. Both accounts come with debit cards and checkbooks that you can ...
After the financial crisis in 2007 and 2008, the government implemented new rules to limit the risks of money market funds and make those remote risks even more remote. With a money market fund ...
BananaStock Ever since the financial crisis, regulators have worried about the safety of money-market mutual funds, where U.S. investors had $2.8 trillion parked as of last month. The Securities ...
it may also include rules about treating customers fairly and having corporate social responsibility. Among the reasons for maintaining close regulation of banking institutions is the aforementioned concern over the global repercussions that could result from a bank's failure; the idea that these bulge bracket banks are " too big to fail ". [ 9 ]
Money within a money market account is insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration for up to $250,000 per person, per account.