Scam-proof your savings Nov 11, 2009
It is highly unlikely, unless the fiction of perfect foresight becomes ubiquitous, that any single investment will deliver precisely the return that is expected of it (some may argue that cash fits the bill, but the 'cash-cannot-be-your-long-term-investment-strategy' horse was flogged to death long ago to learn about the fact that your money is not as safe in the money market as you might think). There is always some circumstance or discontinuity that will upset the proverbial apple cart. (iAfrica.com)
Allon Therapeutics Releases Third Quarter Operating Results Nov 11, 2009
The company's cash equivalents are held in high-grade, liquid and low risk investments which may include commercial paper, government bonds and money market funds and are recorded at fair value. About Allon's neuroprotective platforms. (CCNMatthews Press Releases)
There will be an SEC team in BCS championship Nov 10, 2009
Whats even more crazy is how a big money market school like USC moves back into the top 10 and oregon who just beat the hell out of them dops 4 places behind them. College football has become only about money and in the process has become a big joke. (Atlanta Journal-Constitution -- Sports)
Horizon Financial Reports Second Quarter Fiscal 2010 Results and Form 10-Q Filing Nov 10, 2009
"market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "1257863430", "close" : "1257886830", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000". Search for share prices. (Primezone Releases)
Divorce may mean retiring is delayed Nov 10, 2009
The court found she had bank and money market accounts worth nearly $600,000, plus an IRA retirement accounted valued at about $292,000. Probate Judge Leilah A. Keamy found Rudolph Pierce had not reduced his standard of living after his retirement, while Carneice Pierce had insufficient income to meet her financial needs. (Boston Globe)
Strong home loans support rate rise case Nov 9, 2009
Implied rates, based on money market and swap rates, are pricing in a 70 per cent chance of a quarter percentage point rate rise next month, up from around 56 per cent last week. They showed little reaction to the data. (Sydney Morning Herald -- Business)
US dollar to continue to weaken in medium term Nov 7, 2009
We expect the division, the products of which deal with money market and foreign exchange instruments, to continue to perform well as trade starts to make a comeback and foreign exchange requirements pick up, Gan said. Earlier in the talk, internationally-renowned author Dr Heinz Riehl called on exporters and importers to pay greater attention to protecting the value of their foreign currency receivables and payables. (The Star Online, Malaysia -- Business)
Money Fund Assets Fell to $3.339T in Latest Week Nov 6, 2009
Total money market mutual fund assets fell by $31 ... Assets of the nation's retail money market mutual funds rose by $703 million in the latest week to $1 ... Assets of taxable money market funds in the retail category rose by $170 million to $856. (ABC News -- Wire)
US taxpayers risked US$4.3tril at height of crisis Nov 6, 2009
For example, when a major money market mutual fund threatened to "break the buck" last year, the Treasury Department temporarily guaranteed its assets to reassure investors that their money was safe ... 2 billion from the now-expired guarantees on money market mutual funds. (The Star Online, Malaysia)
Global equity fund flows turn negative Nov 6, 2009
Only six of 24 major global funds and fixed-income fund groups tracked by EPFR Global registered inflows during the week, despite additional liquidity resulting from another week of heavy outflows from money market funds ... Outflows from money market funds rebounded to $27 ... As deflation makes holding cash more attractive, regional money market funds benefited. (India Times)
Dollar rises on rates speculation Nov 5, 2009
December interbank futures and implied money market rates show investors are mulling a 58-60 per cent chance of a 25-basis-point rate rise next month. Aussie bond futures stayed in the red after tracking losses in Treasuries earlier, ahead of next week's $US81 billion Treasury auction. (Sydney Morning Herald -- Business)
Daylight Resources Trust Reports Third Quarter 2009 Financial and Operating Results- Significant Operational Results Validate Resource Play Strategy on Multiple Fronts Nov 5, 2009
The credit facilities bears interest based on the lenders' prime rate and/or at money market rates plus a stamping fee. On October 8, 2009 in conjunction with the acquisition of Highpine Oil & Gas Limited ("Highpine") (see note 15), the facilities were reviewed and increased to $500 million. (CCNMatthews Press Releases)
Caza Oil & Gas Announces Third Quarter Results Nov 5, 2009
Caza invested its cash in short-term money market funds ... (a) net change in non-cash working capital Three months ended Nine months ended September 30, September 30, 2009 2008 2009 2008 -------------------------------------------------------------------------- Provided by (used in) -------------------- Accounts receivable (426,274) 634,556 1,173,115 164,150 Prepaid and other 88,310 88,463 167,739 248,411 Accounts payable and accrued liabilities 864,358 26,481 (2,370,810) (1,601,198)... (CCNMatthews Press Releases)
Safety net for money markets Nov 5, 2009
FT.com / Markets / Insight - Insight: Safety net for money market funds ... Insight: Safety net for money market funds ... The decision in September by the US Treasury to withdraw its guarantee programme for money market mutual funds went largely unnoticed, despite the financial industry remaining firmly in the regulatory and media spotlight. (FT.com -- Markets)
Ban on 90-day NCDs may shut IPO fund tap Nov 5, 2009
Mutual funds, in turn, also prefer lending to brokerages because their money is locked in for only a short time and earns them better returns compared with other money market instruments. Also Read. (India Times)
Govt parks idle money with RBI Nov 5, 2009
A similar situation of surplus liquidity is being witnessed now in the money market. In its latest review on macro and monetary developments, RBI said the surplus cash balances of the Centre has emerged as the key driver of liquidity conditions in the second quarter of FY10. (India Times)
Non-convertible debentures under RBI purview Nov 4, 2009
In a concept note issued late on Tuesday evening, the banking regulator proposed that all such money market NCDs should have tenure above three months ... A money market instruments less than 90 days does not attract any stamp duty ... Only a company having a tangible net worth of not less than Rs 4 crore and sanction for a working capital limit by bank may be allowed to launch a money market NCD.. (India Times)
Blockbuster run for China's Nasdaq Nov 3, 2009
Whether ChiNext can succeed in creating a more efficient money market regime, channeling private capital to more and more start-up technology and innovation ventures, is to be seen. But, the big ups and downs at the first three sessions are dreadful, and most investors hope for a quick stabilization. (People's Daily Online, China)
* EDITORIAL : The problem of surplus capital Nov 1, 2009
It also came after the central bank increased sales of negotiable certificates of deposit and certificates of deposit to drain excess funds from the money market ... Even so, the problem of excess funds in the money market is the most compelling issue for Asian economies, including Taiwan, at this time. (Taipei Times, Taiwan -- Business)
Stocks Plunge amid Worries about Spending Oct 31, 2009
When the market goes up significantly, sell the mutual funds and park the money in a money market, not a money market fund ... The money can be put in money market accounts and various other non-stock investments ... Also, banks offer IRAs using savings and money markets with little or no risk to the principal. (CBS News)
Bangladesh—2009 Article IV Consultation: Preliminary Conclusions of the IMF Mission Oct 31, 2009
Already certain financial institutions have increased their dependency on short-term funding, exposing themselves to the fluctuations of the money market. However, during the summer no reverse repo transactions were undertaken. (IMF News)
Community Capital Corporation Announces Completion of Offering and Results of Operations for Third Quarter Oct 31, 2009
" Community Capital Corporation is the parent company of CapitalBank, which operates 18 community oriented branches throughout upstate South Carolina and offers a full array of banking services, including a diverse wealth management group. Additional information on CapitalBank's locations and the products and services offered are available at . Cautionary Note Regarding Forward-Looking Statements Some of our statements contained in this news release are "forward-looking statements" within the... (Primezone Releases)
IGM Financial Inc. Reports Third Quarter Earnings Oct 30, 2009
Investors Group's twelve month trailing redemption rate (excluding money market funds) was 7. 3% at September 30, 2009, compared to 7. (CCNMatthews Press Releases)
Are Investors Ready for Higher Interest Rates? Oct 30, 2009
It's the reason why yields on bank savings and money market accounts are so paltry. Such low rates aren't sustainable for long periods of time out of fear, among other things, that low rates can overheat the economy, spark inflation, or drastically devalue the U.S. dollar. (BusinessWeek)
Bond Funds Take In Record $47.5 Bil Oct 30, 2009
Money market funds, which often have wide swings in flows, saw outflow of $127. 52 billion in September vs. $53. (Investors Business Daily)
Change your investment plan Oct 29, 2009
According to money market observers, the policy statement clearly heralds the end of soft rates in the economy ... Most analysts believe there won't be much impact on the money market liquidity by the SLR hike, as several banks have already exceeded the required exposure limit. (India Times, India -- Intl Business)
Northfield Bancorp, Inc. Announces September 30, 2009 Results Oct 29, 2009
1 million in core deposits (money market, transaction, passbook and statement savings) ... 01 Non-interest- earning assets 95,418 79,473 ---------- ---------- Total assets $1,925,705 $1,591,740 ========== ========== Interest-bearing liabilities: Savings, NOW, and money market accounts $ 576,055 1,484 1 ... 02 Non-interest- earning assets 92,182 81,880 ---------- ---------- Total assets $1,837,332 $1,529,432 ========== ========== Interest-bearing liabilities: Savings, NOW, and money market... (Primezone Releases)
Deceptive Credit Card Practices Oct 29, 2009
An administrative specialist at the CDC, Howard encouraged her son to open a account that included a credit card, debit card and a money market account. Soon, monthly service fees on the accounts led to a negative balance, then overdraft fees that the 20-year-old student never knew existed in the first place. (ABC News -- Business)
Options In Focus: The Option to Buy or Sell? Oct 29, 2009
However, while I m skeptical of 108 or greater in the SPY as being in the cards after such a historic run, that doesn t preclude a high probability bounce north of 107 and an option that makes better sense and maybe cents of an obviously mad money market in the short-run. We d like to hear your comments on Options In Focus. (Investors Business Daily)
Chill Winds Confront U.S. Stocks Oct 29, 2009
For all the millions of dollars that have moved from money market funds to fixed-income funds thus year, hardly any money has been put to work in equities. Institutional investors have been participating, but there's more than $3 trillion on the sidelines, held mostly by retail investors who have yet to be convinced this rally is for real, Detrick says. (BusinessWeek)
Stocks: Where Are the Deals? Oct 28, 2009
That still allows for a significant gain more than the nonexistent returns these days on bank savings accounts or money market funds. But, he says, "it's definitely harder than it was in late February.". (BusinessWeek)
OPTI Canada Announces Third Quarter 2009 Results Oct 28, 2009
CALGARY, Oct. 28 /CNW/ - OPTI Canada Inc. (OPTI) announced today the Company's financial and operating results for the quarter ended September 30, 2009. Our objectives in the third quarter were to complete the planned turnaround and to start-up the final components of the Upgrader, which are the thermal cracker and the solvent deasphalter. (Canada Newswire)
ONLINE CALCULATOR: Got a retirement goal? Here's how to reach it Oct 28, 2009
MONEY MARKET ACCOUNTS (MMAs). Compare CDs tment Rates lect> lect> 1 Yr CD average 1. (USA Today -- Money)
Summit State Bank Reports Third Quarter Profit and Declaration of Dividend Oct 27, 2009
Demand, savings and money market deposits increased $20 million or 33% at September 30, 2009 compared to December 31, 2008 ... 05 Basic weighted average shares of common stock outstanding 4,745 4,745 4,745 4,745 Diluted weighted average shares of common stock outstanding 4,794 4,745 4,768 4,745 SUMMIT STATE BANK AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (In thousands except share and per share data) Sept. 30, Sept. 30, 2009 2008 -------- -------- (Unaudited) ASSETS Cash and due from banks $... (Primezone Releases)
Commitment management a powerful tool for retirement investing Oct 27, 2009
I also have $10,600 in a money market savings account that earns about 1 percent ... I also have a $97,300 IRA rollover account in a money market account earning 1 percent interest ... You should use the money market account to deal with the car lease and the cost of buying a used car. (Boston Globe)
Fidelity guru calls market turning point Oct 27, 2009
" Mr Bolton is considered one of the best investors of his time, having run one of the best performing UK retail funds for Fidelity. The fund delivered an annualised return of 19.5 per cent over 28 years, beating the market index by six per cent. Casting an eye across the global economy, Mr Bolton sees low growth rates and slow credit creation plaguing the world's developed economies after governments mortgaged their nations' futures through stimulus spending in response to the financial crisis.... (Sydney Morning Herald -- Business)
Fear still haunts global investors Oct 26, 2009
Fund tracker EPFR Global reckons that some 94% of the net flows to US money market funds it tracked in 2008 has already exited. But going further back, it says US money funds that report weekly took in a net $191 billion in 2007 as a whole. (India Times)
Muted producer prices cool rate fervour Oct 26, 2009
Implied cash rates, based on money market and swap rates, are fully pricing in a 25-basis-points hike and factoring in about a 30 per cent chance of a 50-basis-points rise on November 3. Prices at the final stage of production (PPI) rose by 0. (Sydney Morning Herald -- Business)
Deflation in Japan Likely to Persist Until 2011, Central Bank May Forecast Oct 26, 2009
Japans central bank may decide this week to extend the limitless lending initiative to March because the facility is being used by lenders and terminating it may cause borrowing costs in the money market to rise, according to JPMorgans Kanno. Not all economists expect a decision on the programs this month. (Bloomberg -- Japan)
To pay off or not, that's the query Oct 25, 2009
If I put my money in a certificate of deposit or a money market account, I will be getting about 2 percent ... Are you willing to put the money somewhere other than a bank or a money market fund ... If I put my money in a certificate of deposit or a money market account, I will be getting about 2 percent. (New York Post -- Business)
Enterprise Financial Reports Third Quarter 2009 Results Oct 24, 2009
40% AVERAGE BALANCES Portfolio loans $2,121,518 $2,168,417 $2,208,519 $2,147,731 $2,057,083 Earning assets 2,386,575 2,323,334 2,333,247 2,271,600 2,181,291 Total assets 2,493,058 2,447,863 2,502,008 2,445,248 2,358,570 Deposits 1,826,230 1,748,637 1,716,291 1,739,525 1,645,396 Shareholders' equity 166,068 161,315 214,271 188,449 184,959 LOAN PORTFOLIO Commercial and industrial $ 703,662 $ 673,154 $ 660,651 $ 672,720 $ 638,382 Commercial real estate 793,569 846,079 878,543 879,963 896,336... (Primezone Releases)
DNB Financial Corporation Announces Third Quarter 2009 Earnings Oct 24, 2009
Core deposits, consisting of demand, money market, NOW and savings accounts, increased $47. 6 million in total or 17. (Primezone Releases)
Guaranty Bancorp Announces 2009 Third Quarter Financial Results Oct 24, 2009
---------------------------------------------- Sept. 30, June 30, Dec. 31, Sept. 30, 2009 2009 2008 2008 ---------------------------------------------- (In thousands) Noninterest bearing deposits $ 366,308 $ 352,185 $ 433,761 $ 403,495 Interest bearing demand 152,914 142,013 145,492 142,164 Money market 319,504 306,243 315,364 483,691 Savings 72,483 72,143 68,064 68,910 Time 721,227 688,146 735,970 536,841 ---------------------------------------------- Total deposits $1,632,436 $1,560,730... (Primezone Releases)
Bridge Bancorp, Inc. Reports Third Quarter 2009 Results Oct 24, 2009
As we approach our 100th anniversary in these uncertain economic times, we remain committed to the sound business principles that have served this Company well: conservative underwriting of loans to local customers and businesses, prudent management of risks, core community based funding and strong financial results delivered to our shareholders," concluded Mr. O'Connor. About Bridge Bancorp, Inc. Bridge Bancorp, Inc. is a bank holding company engaged in commercial banking and financial services... (Primezone Releases)
Stifel completes buy of 56 UBS branches Oct 23, 2009
7 billion in money market accounts and FDIC-insured balances that were converted to the Stifel Nicolaus platform. The deal was an asset purchase for cash at a premium over certain balance sheet items, subject to adjustment, the company said. (St. Louis Business Journal, MO)
Dollar rally shows signs of fatigue Oct 23, 2009
Implied cash rates, based on money market and swap rates, are fully pricing in a 25 basis point hike and factoring in a 30 per cent chance the central bank will raise rates by 50 basis points on November 3. Over the next 12 months, investors are pricing in nearly 220 basis points of rate hikes. (Sydney Morning Herald -- Business)
Meridian Interstate Bancorp, Inc., Reports Results for the Three and Nine Months Ended September 30, 2009 Oct 23, 2009
6%, from December 31, 2008, as the Company invested excess cash in money market mutual funds and debt securities as an alternative to lower-yielding federal funds sold ... Money market deposits increased by $85 ... The Company successfully established an online deposit gathering website during 2009, EBSB Direct, which contributed to the increase in money market account balances. (Primezone Releases)
Sussex Bancorp Announces Improved Third Quarter and Nine Month Earnings Oct 23, 2009
38% Money market 15,129 144 1. 27% 26,346 451 2. (Primezone Releases)
Heritage Commerce Corp Reports Financial Results for Third Quarter 2009 Oct 23, 2009
Savings and money market deposits decreased $76 ... The decreases in savings and money market deposits were primarily due to lower balances in title insurance company, escrow, and real estate exchange facilitators' accounts ... 48% 18% AVERAGE BALANCES (in $000's, unaudited) Average Assets $1,450,959 $1,443,641 1% Average Tangible Assets $1,403,771 $1,395,761 1% Average Earning Assets $1,314,599 $1,292,758 2% Average Loans Held-for-Sale $ 6,005 -- N/A Average Total Loans $1,191,034 $1,159,535 3%... (Primezone Releases)
Export prices keep upward pressure on rates Oct 23, 2009
Implied cash rates, based on money market and swap rates, are fully pricing in a 25 basis point hike and factoring in about a 30 percent chance of a 50 basis points rise on November 3. The continued drop in export prices saw the terms of trade, or what Australia gets for exports compared to what it pays for imports, fall a further 7 per cent in the quarter. (Sydney Morning Herald -- Business)
Eagle Bancorp, Inc. Announces $2.1 Million 3rd Quarter Net Income Available to Common Shareholders and a 20% Decline in Nonperforming Assets in the 3rd Quarter Oct 22, 2009
The significant increase in deposits in the third quarter is primarily attributable to a marketing campaign for money market accounts ... 71% Loan Balances - Period End (in thousands): --------------- Commercial and Industrial $ 327,245 $ 302,534 $ 327,245 $ 302,534 Commercial real estate - owner occupied $ 191,455 $ 169,733 $ 191,455 $ 169,733 Commercial real estate - income producing $ 451,195 $ 329,179 $ 451,195 $ 329,179 1-4 Family mortgage $ 9,044 $ 10,000 $ 9,044 $ 10,000 Construction -... (Primezone Releases)
Stimulus to continue, says Pranab Mukherjee Oct 22, 2009
Accommodative monetary policy will continue till March 2010," he said, adding that this policy stance will have to undergo a change but that will depend on the growth performance of the economy andinflationary pressure. Government has released around Rs 3 lakh crore each as stimulus packages in 2008-09 and 2009-10. Besides this, RBI pumped in more than Rs 2 lakh crore in the money market to bring down interest rates. But these measures, if not withdrawn in time, can prove inflationary and impact... (India Times, India)
READ: Morgan Stanley's press release Oct 22, 2009
4 billion since the third quarter of last year, primarily in the Company's money market and long-term fixed income funds. OTHER MATTERS. (USA Today -- Money)
Options In Focus: Intuitively Logical? Oct 22, 2009
Now with a much more manageable loss in hand, traders are in a stronger position to adjust and do the right thing based on fresh circumstances within a sometimes mad money market. We d like to hear your comments on Options In Focus. (Investors Business Daily)
Click to read:Pay Cuts Coming for Bailed Out Executives Oct 22, 2009
The tax payers and those who invest in almost always low interest bank saving, money market and CD accounts are the real economy saviors, certainly not those top bank executives. A bank teller definitely does more for consumers than does a bank executive. (CBS News)
Dearborn Bancorp Reports Third Quarter Results Oct 21, 2009
77% END OF PERIOD BALANCES Total portfolio loans $862,664 $881,818 $900,055 $933,269 $939,109 Earning assets $1,005,659 $909,462 $1,012,149 $1,064,196 $992,951 Total assets $1,042,337 $989,800 $1,073,744 $1,121,918 $1,077,979 Deposits $904,954 $813,167 $907,579 $938,395 $858,751 Total shareholders' equity $47,890 $87,877 $96,964 $103,311 $133,840 AVERAGE BALANCES Total portfolio loans $875,545 $897,978 $919,705 $940,195 $944,262 Earning assets $958,383 $1,004,914 $1,039,618 $1,010,304 $961,935... (Primezone Releases)
Savannah Bancorp Reports Third Quarter Earnings of $346,000 and Declares Quarterly Dividend Oct 21, 2009
2) The Savannah Bancorp, Inc. and Subsidiaries Consolidated Balance Sheets September 30, 2009 and 2008 ($ in thousands, except share data) (Unaudited) September 30, --------------------------------------------------------------------- 2009 2008 --------------------------------------------------------------------- Assets Cash and due from banks $ 22,519 $ 14,968 Federal funds sold 16,627 11,570 Interest-bearing deposits 3,847 4,221... (Primezone Releases)
Flushing Financial Corporation Reports 2009 Third Quarter Earnings Increase of 65% to $0.33 Per Diluted Common Share; Core Earnings Increase of 3.7% to $0.28 Per Diluted Common Share Oct 21, 2009
The cost of certificates of deposit, money market accounts, savings accounts and NOW accounts decreased 83 basis points, 158 basis points, 82 basis points and 109 basis points respectively, for the quarter ended September 30, 2009 compared to the same period in 2008 ... The combined average balances of lower-costing savings, money market and NOW accounts increased a total of $315 ... The cost of certificates of deposit, money market accounts, savings accounts and NOW accounts decreased 88 basis... (Primezone Releases)
* Invesco buying Morgan Stanley unit Oct 21, 2009
5 billion over the course of the year, mainly in the companys money market and long-term fixed income funds. Morgan Stanley said its investment management group would include several institutional-focused businesses, including a long-only business (equity and fixed income), a direct hedge fund business, and a fund of funds business. (Taipei Times, Taiwan -- Sports)
Harvard flunks in money management Oct 21, 2009
Individual schools at Harvard received a modest investment return, similar to what they would have earned in a money market, on cash accounts. But the money was actually invested more aggressively with the endowment, regularly generating larger returns than those money market rates. (Sydney Morning Herald -- Business)
Federal Reserve tests tool for sponging money out of economy Oct 20, 2009
Some analysts have said that might involve transactions with money market mutual funds. No decisions have been made regarding the types of firms that may be included, the New York Fed said yesterday. (Boston Globe)
Harvard University's money problems Oct 20, 2009
Here s how they said it worked: Individual schools at Harvard received a modest investment return, similar to what they would have earned in a money market, on cash accounts. But the money was actually invested more aggressively with the endowment, regularly generating larger returns than those money market rates. (Boston Globe)
Foreigners Bought a Net C$5.1 Billion of Canadian Securities in August Oct 20, 2009
1 billion in holdings of money market paper, mostly short-term government paper ... Canadians a net C$112 million of foreign securities in August, as sales of bonds and money market paper exceeded stock purchases, Statistics Canada said. (Bloomberg -- Canada)
Invesco to acquire Morgan Stanley unit Oct 20, 2009
5 billion over the course of the year, mainly in the company's money market and long-term fixed income funds. Going forward, Morgan Stanley said its investment management group will include several institutional-focused businesses, including a long-only business (equity and fixed income), a direct hedge fund business, and a fund of funds business. (India Times)
Newspapers are struggling in part because they embrace a liberal bias (10) Oct 19, 2009
Gator wrote on Aug 23, 2009 9:22 PM:" Lifetime Public Service employee. Your kidding right jb.. You must haveMissed his twenty five years as Vice President of the Money Market Securities Department at Merrill Lynch. He also worked at the Seattle First National Bank as a Vice President in the Commercial Lending Division. Then he ran his own restaurant business and after all that he came to Lodiand taught ESL to adults from all over the world. So there is a small part0f Joe Guzzardi a man that I... (Lodi News Sentinel, CA)
