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Money Market Deposit Account
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. 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. Money market accounts should not be confused with money market funds, which are mutual funds that invest in money market securities. United States Features Money market accounts are regulated under terms similar to ordinary savings accounts. They are insured by the FDIC (unlike money market funds), and although they may provide checking services, the restrictions of Federal Reserve Regulation D have discouraged their use for day-to-day payment purposes. In practice, money market accounts are distinguished from ordinary savings accounts by their higher balance requirements and their more comple ...
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Deposit Account
A deposit account is a bank account maintained by a financial institution in which a customer can deposit and withdraw money. Deposit accounts can be savings accounts, current accounts or any of several other types of accounts explained below. Transactions on deposit accounts are recorded in a bank's books, and the resulting balance is recorded as a liability of the bank and represents an amount owed by the bank to the customer. In other words, the banker-customer (depositor) relationship is one of debtor-creditor. Some banks charge fees for transactions on a customer's account. Additionally, some banks pay customers interest on their account balances. Types of accounts * How banking works In banking, the verbs "deposit" and "withdraw" mean a customer paying money into, and taking money out of, an account, respectively. From a legal and financial accounting standpoint, the noun "deposit" is used by the banking industry in financial statements to describe the liability o ...
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Interest Rates
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ...
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Money Market
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. Trading in money markets is done over the counter and is wholesale. There are several money market instruments in most Western countries, including treasury bills, commercial paper, banker's acceptances, deposits, certificates of deposit, bills of exchange, repurchase agreements, federal funds, and short-lived mortgage- and asset-backed securities. The instruments bear differing maturities, currencies, credit risks, and structures. A market can be described as a money market if it is composed of highly liquid, short-term assets. Money market funds typically invest in government securit ...
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Cengage Learning
Cengage Group is an American educational content, technology, and services company for the higher education, K-12, professional, and library markets. It operates in more than 20 countries around the world.(Jun 27, 2014Global Publishing Leaders 2014: Cengage publishersweekly.comCompany Info - Wall Street JournalCengage LearningCompany Overview of Cengage Learning, Inc.
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The company is headquartered in Boston, Massachusetts, and has approximately 5,000 employees worldwide across nearly 38 countries. It was headquartered at its Stamford, Connecticut, office until April 2014.



Mason, Ohio
Mason is a city in southwestern Warren County, Ohio, United States, approximately north of downtown Cincinnati. As of the 2020 census, Mason's population was 34,792. Mason is home to Kings Island amusement park and one of the largest tennis stadiums in the world, the Lindner Family Tennis Center, home of the Western & Southern Open, one of the world's top tennis tournaments for both men and women. History On June 1, 1803, Revolutionary War veteran William Mason paid $1,700 at auction to purchase of land in what is now downtown Mason. In 1815, he platted 16 lots on this land and named the village "Narnia." In 1832, two years after the death of William Mason, more than 40 additional lots were platted on the north, south, and west of Narnia, according to his will. When the plat was officially recorded, the name of the village was listed as " Palmyra." In 1835, a petition was sent to the federal post office to correct the name of the town. The town had been listed as Kirkwood, ...
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Savings Account
A savings account is a bank account at a retail bank. Common features include a limited number of withdrawals, a lack of cheque and linked debit card facilities, limited transfer options and the inability to be overdrawn. Traditionally, transactions on savings accounts were widely recorded in a passbook, and were sometimes called passbook savings accounts, and bank statements were not provided; however, currently such transactions are commonly recorded electronically and accessible online. People deposit funds in savings account for a variety of reasons, including a safe place to hold their cash. Savings accounts normally pay interest as well: almost all of them accrue compound interest over time. Several countries require savings accounts to be protected by deposit insurance and some countries provide a government guarantee for at least a portion of the account balance. There are many types of savings accounts, often serving particular purposes. These can include accounts ...
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Transaction Account
A transaction account, also called a checking account, chequing account, current account, demand deposit account, or share draft account at credit unions, is a deposit account held at a bank or other financial institution. It is available to the account owner "on demand" and is available for frequent and immediate access by the account owner or to others as the account owner may direct. Access may be in a variety of ways, such as cash withdrawals, use of debit cards, cheques (checks) and electronic transfer. In economic terms, the funds held in a transaction account are regarded as liquid funds. In accounting terms, they are considered as cash. Transaction accounts are known by a variety of descriptions, including a current account (British English), chequing account or checking account when held by a bank, share draft account when held by a credit union in North America. In the United Kingdom, Hong Kong, India and a number of other countries, they are commonly called current or ...
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Money Market Fund
A money market fund (also called a money market mutual fund) is an open-ended mutual fund that invests in short-term debt securities such as US Treasury bills and commercial paper. Money market funds are managed with the goal of maintaining a highly stable asset value through liquid investments, while paying income to investors in the form of dividends. Although they are not insured against loss, actual losses have been quite rare in practice. Regulated in the United States under the Investment Company Act of 1940, and in Europe under Regulation 2017/1131, money market funds are important providers of liquidity to financial intermediaries. Explanation Money market funds seek to limit exposure to losses due to credit, market, and liquidity risks. Money market funds in the United States are regulated by the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940. Rule 2a-7 of the act restricts the quality, maturity and diversity of investments by mo ...
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Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as of the cl ...
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Regulation D (FRB)
Reserve Requirements for Depository Institutions (, Regulation D) is a Federal Reserve regulation governing the reserves that banks and credit unions keep to satisfy depositor withdrawals. Although the regulation still requires banks to report the aggregate balances of their deposit accounts to the Federal Reserve, most of its provisions are inactive as a result of policy changes during the COVID-19 pandemic. Reserves Until March 2020, Regulation D required depository institutions to keep a minimum amount of reserves in order to meet immediate withdrawals against their transaction accounts. The minimum reserve percentage was determined separately for each institution, starting at zero for small banks and increasing to 10% of transaction account deposits for the largest banks. An institution could satisfy the requirement with vault cash and with deposits at a Federal Reserve Bank, or a bank that acted as a Federal Reserve correspondent. After the financial crisis of 2007–08, the ...
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Depository Institutions Deregulation And Monetary Control Act
The Depository Institutions Deregulation and Monetary Control Act of 1980 (, ) (often abbreviated DIDMCA or MCA) is a United States federal financial statute passed in 1980 and signed by President Jimmy Carter on March 31. It gave the Federal Reserve greater control over non-member banks. * It forced all banks to abide by the Fed's rules. * It relaxed the rules under which national banks could merge. * It removed the power of the Federal Reserve Board of Governors under the Glass–Steagall Act to use Regulation Q to set maximum interest rates for any deposit accounts other than demand deposit accounts (with a six-year phase-out). * It allowed Negotiable Order of Withdrawal accounts to be offered nationwide.Gilbert, Alton. "Requiem for Regulation Q: What It Did and Why It Passed Away", Federal Reserve Bank of St. Louis: pp. 31-33/ref> * It raised the deposit insurance of US banks and credit unions from $40,000 to $100,000. * It allowed credit unions and savings and loans to off ...
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