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  1. Mar 21, 2024 · Money market accounts let you grow your money more quickly, but without the uncertainty tied to investment accounts. Eligible money market accounts are FDIC-insured up to $250,000 per depositor ...

  2. Oct 16, 2023 · The Final Rule redefined the “national rate” as the average of rates paid by all insured depository institutions and credit unions for which data is available, with rates weighted by each institution’s share of domestic deposits. The “national rate cap” is calculated as the higher of: (1) the national rate plus 75 basis points; or (2 ...

  3. Feb 25, 2020 · For the 5,177 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC), aggregate net income totaled $55.2 billion in fourth quarter 2019, a decline of $4.1 billion (6.9 percent) from a year ago. The decline in net income was led by lower net interest income and higher expenses.

  4. Apr 26, 2024 · Top perks. High APY: The 4.75% annual percentage yield (APY) on the Sallie Mae Money Market account is competitively high. No account minimums, no fees: Unlike some money market accounts, you don ...

  5. 2 days ago · Compare current money market account rates for May 2024. Vio Bank — 5.30% APY. UFB Direct — 5.25% APY. CFG Community Bank — 5.25% APY. Quontic Bank — 5.00% APY. Sallie Mae Bank — 4.65% ...

  6. Feb 24, 2023 · The trend in total FDIC-insured deposit balances looks different than the trend in the FDIC’s actual deposit insurance fund balance. It rose steadily from about $3.38 trillion in 2002 to $4.75 trillion in 2008, then accelerated into the Great Financial Crisis and its aftermath. It notched a temporary high of $7.4 trillion in 2012.

  7. Money market funds typically have low interest rates, comparable with a high-yield savings account. As inflation and interest rates go up, money market fund interest rates go up and vice versa. As of 4Q 2023, the average money market interest rate is over 5% thanks to aggressive Fed rate hikes since 2022.