The Wall Street Journal's "For Banks, Rate Rules Could Mean Tough Times" says, "Banks deemed to be less than 'well capitalized' by the Federal Deposit Insurance Corp. won't be allowed, starting Jan. 1, to pay more than 0.75 percentage point above the U.S. average. Just 4% of the nation's 8,185 federally insured banks weren't well-capitalized as of June 30. But weaker banks 'drive up costs for the rest of the industry' by offering unusually high rates to lure deposits, FDIC Chairman Sheila Bair said when the rule was announced in May." This is of course, good news for money funds, who have been forced to compete with a number of outlier banks paying distressed rates. In other news, the U.K.-based FT Adviser says "The IMA will change the name of its Protected/Guaranteed sector to Protected".

Email This Article




Use a comma or a semicolon to separate

captcha image

Daily Link Archive

2024 2023 2022
March December December
February November November
January October October
September September
August August
July July
June June
May May
April April
March March
February February
January January
2021 2020 2019
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2018 2017 2016
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2015 2014 2013
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2012 2011 2010
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2009 2008 2007
December December December
November November November
October October October
September September September
August August August
July July July
June June June
May May May
April April April
March March March
February February February
January January January
2006
December
November
October
September