Money market account A or money market account money market is a deposit account that deposit account 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 FeaturesMoney market accounts are regulated under terms similar to ordinary savings accounts. They are insured by the FDIC, 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 complex interest rate structure. HistoryThe Depository Institutions Deregulation and Monetary Control Act of 1980 set in motion a series of steps, designed to phase in the deregulation of bank deposits, permitting a wider variety of account types, and eventually eliminating interest ceilings on deposits. By the subsequent Garn–St. Germain Depository Institutions Act of 1982, on December 14, 1982, money market accounts were authorized with a minimum balance of no less than $2,500, no interest ceiling, and no minimum maturity, allowing up to six transfers out of the account per month and unlimited withdrawals by mail, messenger, or in person. Minimum denominations were eliminated on January 1, 1986, and the limitation that no more than three of the maximum six monthly outward transfers could be by check was eliminated on May 3, 1988.
Popular articles Angela Merkel - German politician who has been Chancellor of Germany since 2005. She served as the Leader of the Christian Democratic Union from 2000 to 2018. Merkel has been widely desc... Oleksandr Usyk - Ukrainian professional boxer. He reigned as the undisputed cruiserweight champion from 2018 until he vacated his titles in 2019, being the first cruiserweight in h... Next German federal election - The next German federal election for the 20th Bundestag is expected to be held between August and October 2021. Background. Previous election. The 2017 federal elections were held after a four-ye... Social Democratic Party of Germany - social-democratic political party in Germany. It is one of the two major contemporary political parties in Germany along with the Christian Democratic Uni... Cleopatra - Cleopatra VII Philopator was the last active ruler of the Ptolemaic Kingdom of Egypt. As a member of the Ptolemaic dynasty, she was a descendant of its founder Ptolemy I Soter, a Macedonian Greek ge... Sex Education (TV series) - British comedy-drama web television series created by Laurie Nunn. Starring Asa Butterfield as an insecure teenager and Gillian Anderson as his mother, a sex therapist, the series... YouTube - American online video-sharing platform headquartered in San Bruno, California. Three former PayPal employees—Chad Hurley, Steve Chen, and Jawed Karim—created the service in Februar... Popular movies Dune (2020 film) - upcoming 2020 epic science fiction film directed by Denis Villeneuve with a screenplay by Jon Spaihts, Eric Roth and Villeneuve. The film... Free Guy - upcoming American science fiction action comedy film directed by Shawn Levy from a screenplay by Matt Lieberman and Zak Penn and a story by Lieberman. The film stars Ryan Reynolds, Jo... No Time to Die - forthcoming spy film and the twenty-fifth instalment in the James Bond film series produced by Eon Productions. The film features Daniel Craig in his fifth and final outing as ... Shang-Chi and the Legend of the Ten Rings - upcoming American superhero film based on the Marvel Comics character Shang-Chi. Produced by Marvel Studios and distributed by Walt Disney Studios Mot... Venom: Let There Be Carnage - upcoming American superhero film based on the Marvel Comics character Venom, produced by Columbia Pictures in association with Marvel. Distributed by Sony Pictures ... Dune (1984 film) - 1984 American epic science fiction film written and directed by David Lynch and based on the 1965 Frank Herbert novel of the same name. The film stars Kyle MacLachlan as young nobleman Pau... Black Widow (2020 film) - upcoming American superhero film based on the Marvel Comics character of the same name. Produced by Marvel Studios and distributed by Walt Disney Studios Motion Pictures, it is int... Popular video games Roblox - online game platform and game creation system that allows users to program games and play games created by other users. Founded by David Baszucki and Erik Cassel in 2004 and released in... Genshin Impact - upcoming open-world action role-playing video game developed by miHoYo. It is the second game from miHoYo to feature original IP, the first being Gun GirlZ . History. Genshin... League of Legends - multiplayer online battle arena video game developed and published by Riot Games for Microsoft Windows and macOS. Inspired by Defense of the Ancients , the game follows a fre... Diablo II - action role-playing hack-and-slash computer video game developed by Blizzard North and published by Blizzard Entertainment in 2000 for Microsoft Windows, Classic Mac OS, and macOS. T... Grand Theft Auto V - 2013 action-adventure game developed by Rockstar North and published by Rockstar Games. It is the first main entry in the Grand Theft Auto series since 2008's Grand Theft ... Kena: Bridge of Spirits - upcoming action-adventure game developed and published by Ember Lab. It is scheduled for release in late 2020 for Microsoft Windows, PlayStation 4, and PlayStation 5. G... Deltarune - role-playing video game created by Toby Fox. The player controls a human, Kris, in a world inhabited by monsters. Kris and a classmate named Susie fall into an unknown place called th... Popular books Dune (novel) - 1965 science fiction novel by American author Frank Herbert, originally published as two separate serials in Analog magazine. It tied with Roger Zelazny's This Immortal for the Hugo Aw... Foundation (Asimov novel) - science fiction novel by American writer Isaac Asimov. It is the first published in his Foundation Trilogy . Foundation ... Bible - collection of religious texts or scriptures sacred to Christians, Jews, Samaritans, Rastafari and others. They generally consider the Bible to be a product of divine inspiration and a... Nineteen Eighty-Four - dystopian novel by English novelist George Orwell. It was published on 8 June 1949 by Secker & Warburg as Orwell's ninth and final book... SCP Foundation - fictional organization documented by the web-based collaborative-fiction project of the same name. Within the website's fictional setting, the SCP Foundation is responsible f... James Bond - The James Bond series focuses on a fictional British Secret Service agent created in 1953 by writer Ian Fleming, who featured him in twelve novels and two short-story collections. Since Fleming's de... The Witcher - fantasy series of novels and short stories written by Polish author Andrzej Sapkowski. The series revolves around the titular "witcher", Geralt of Rivia. In Sapkowski's wo... Popular television series
Sex Education (TV series) - British comedy-drama web television series created by Laurie Nunn. Starring Asa Butterfield as an insecure teenager and Gillian Anderson as his mother, a sex therapist, the series... Foundation (TV series) - upcoming American science fiction television series based on the book series of the same name by Isaac Asimov and produced for Apple TV+. The series was in pre-production, but on Ma... Money Heist - Spanish heist crime drama television series created by Álex Pina. The series traces two long-prepared heists led by the Professor, one on the Royal Mint of Spain, and one on the Ba... What If...? (TV series) - upcoming American animated web television anthology series created for Disney+ by A.C. Bradley, based on the Marvel Comics series of the same name. It explores what would happen if... The Walking Dead (TV series) - American post-apocalyptic horror television series for AMC based on the comic book series by Robert Kirkman, Tony Moore, and Charlie Adlard. The series features a large ensemb... Ted Lasso (TV series) - continuation of the character Sudeikis portrayed in a series of promos for NBC... The Sandman (TV series) (television series) - The Sandman (TV series) - Netflix's future television adaptation of Neil Gaiman's "The Sandman."....
OWIKI.org. Text is available under the Creative Commons Attribution-ShareAlike License.