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Money Market
- Thread starter GGal
- Start date
GGal
Active member
ANSWER (from STOCKADVISOR)
"How safe are money market funds? The reality is that – short of a financial crisis – money market funds are very safe investments. Though they are not insured by the FDIC, they are regulated by the SEC.
“Money funds are required to hold only top tier investments and to keep the average maturity under 90 days. The SEC also mandates that no more than 5% of holdings can be in any one issuer (except the U.S. government). We feel it is highly unlikely that we will see the price of any large, established money market fund fall under $1/share.
“With that said, there hasn’t been a financial crisis severe enough to truly test the system since the inception of money funds in 1970. Therefore, it is only prudent to be cautious and prepared during this tenuous time in the credit markets."
"How safe are money market funds? The reality is that – short of a financial crisis – money market funds are very safe investments. Though they are not insured by the FDIC, they are regulated by the SEC.
“Money funds are required to hold only top tier investments and to keep the average maturity under 90 days. The SEC also mandates that no more than 5% of holdings can be in any one issuer (except the U.S. government). We feel it is highly unlikely that we will see the price of any large, established money market fund fall under $1/share.
“With that said, there hasn’t been a financial crisis severe enough to truly test the system since the inception of money funds in 1970. Therefore, it is only prudent to be cautious and prepared during this tenuous time in the credit markets."
clester
Well-known member
My capital-one high yield money market say its FDIC insured to 100,000
budnipper1
Active member
This is my cash savings account preference. Earns interest at a higher rate than most CD's, without the hassle of locking cash deposits for specific time periods and keeping up with expiration dates. I opened my account in January, 2006 because my credit union dropped their rates to almost nothing. I still maintain the credit union account, but make regular on-line transfers from that account to EmigrantDirect.
AmericanDream SavingsAccount™ EmigrantDirect.com
Deposits at EmigrantDirect are FDIC insured up to $100,000 per depositor
5.05% annual percentage yield
-No Fees. No Minimums.
Open your account online.
No need to change your checking account.
-Your AmericanDream SavingsAccount™ is linked to your current checking account.
https://www.emigrantdirect.com/EmigrantDirectWeb/login/LearnMore.jsp
EmigrantDirect is the online banking division of Emigrant Bank. It is for consumer accounts only. The Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920’s it had grown to become the largest savings bank in the nation.
As of December 31, 2006, Emigrant Bank has approximately $13.8 billion in assets and more than $890 million in net worth. Together, Emigrant Bank and its affiliated Regional Banks have $17.3 billion in assets and more than $1.1 billion in net worth, operating through 35 branches in the New York metropolitan area
AmericanDream SavingsAccount™ EmigrantDirect.com
Deposits at EmigrantDirect are FDIC insured up to $100,000 per depositor
5.05% annual percentage yield
-No Fees. No Minimums.
Open your account online.
No need to change your checking account.
-Your AmericanDream SavingsAccount™ is linked to your current checking account.
https://www.emigrantdirect.com/EmigrantDirectWeb/login/LearnMore.jsp
EmigrantDirect is the online banking division of Emigrant Bank. It is for consumer accounts only. The Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920’s it had grown to become the largest savings bank in the nation.
As of December 31, 2006, Emigrant Bank has approximately $13.8 billion in assets and more than $890 million in net worth. Together, Emigrant Bank and its affiliated Regional Banks have $17.3 billion in assets and more than $1.1 billion in net worth, operating through 35 branches in the New York metropolitan area
clester
Well-known member
Capital one pays 5%. Same type account as the other post.
I use ING with no problems. I have never like money market accounts. I have been thinking of moving over to EmigrantDirect and probably will as soon as I see how far the rates drop do to the Fed rate change. I always look for FDIC just for the comfort level.
ING http://www.ingdirect.com/osa_google/
ING http://www.ingdirect.com/osa_google/
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