Latest news with #FDIC
Yahoo
12 hours ago
- Business
- Yahoo
Best money market account rates today, June 27, 2025 (up to 4.41% APY return)
Find out which banks are offering the best MMA rates right now. The Federal Reserve cut the federal funds rate three times in 2024 for a total reduction of one percentage point. As a result, deposit interest rates — including money market account rates — have been falling. It's more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. Although money market account rates are elevated by historical standards, the national average rate for MMAs is just 0.62%, according to the FDIC. The good news: Top high-yield money market accounts offer well over 4% APY — more than six times the national average. That's why it's important to shop around before opening a money market account. Interest rates vary widely, but there are several banks (in particular, online banks) and credit unions with highly competitive offers. Here's a look at some of the top MMA rates available today:Additionally, the table below features some of the best savings and money market account rates available today from our verified partners. Online banks operate exclusively via the web. This significantly reduces their overhead costs, so they're able to pass those savings onto customers in the form of high deposit rates and low fees. If you're searching for the best money market account rates, online banks are a great place to start. That said, online banks aren't the only place you can find savings accounts with rates of 4% to 5% APY. Credit unions are not-for-profit financial cooperatives, and are also know for providing competitive rates and fewer fees. Many credit unions have certain requirements that must be met in order to become a member, though there are some that allow just about anyone to join. Read more: Are online banks really safe? Money market accounts can be a great option for short-term savings goals, like building an emergency fund or setting aside money for an upcoming expense. They generally offer higher interest rates than regular savings accounts, and they provide easier access to your money compared to some other options like certificates of deposit (CDs). Money market accounts are also considered low-risk, and they are FDIC-insured up to the standard $250,000 per depositor, per institution. This makes them safer than money market funds, which can be subject to market risk. However, keep in mind that many money market accounts require a minimum balance to open the account and earn the highest advertised rate. If you can't maintain this balance, you might incur fees or miss out on the best rates. And although you can generally access your funds as needed, MMAs may limit the number of transactions you can make each month. If you need frequent access to your money, this might be a consideration. Read more: Is there a penalty for withdrawing from your money market account? When a money market account makes sense: You want to earn more interest than a regular savings account without locking up your money in a CD. You can maintain the minimum balance to avoid fees. You want to keep funds easily accessible for emergencies or near-term expenses. Currently, the average money market account rate is 0.63%. However, several high-yield accounts pay upwards of 4% or more. If you're considering opening a money market account, be sure to shop around and compare rates. There is no one account or investment that guarantees a 12% return. However, if your goal is to earn a strong return on your money and grow your wealth significantly, investing in market securities such as stocks, mutual funds, exchange-traded funds is the best strategy for doing so. The stock market returns about 10% per year, on average. If you aren't sure where to start, it can be helpful to speak with a financial advisor about your financial goals and priorities. Alternatively, you can sign up with a robo-advisor, which is an automated, cost-effective option for managing your portfolio. Read more: Robo-advisor: How to start investing right away
Yahoo
16 hours ago
- Business
- Yahoo
Best money market account rates today, June 26, 2025 (earn up to 4.41% APY)
Find out which banks are offering the best MMA rates right now. As interest rates begin to fall following the Fed's recent rate cuts, it's more important than ever to ensure you're earning a competitive rate on your savings. One option you may want to consider is a money market account (MMA). These accounts are similar to savings accounts — they offer interest on your balance, but may also include a debit card and/or check-writing capabilities. Wondering where the top money market account rates can be found today? Here's what you need to know. From a historical perspective, money market account interest rates have been quite high. The national average interest rate for money market accounts is just 0.62%, according to the FDIC, but the top money market account rates often pay above 4% APY or even more — similar to the rates offered on high-yield savings accounts. Here's a look at some of the top MMA rates available today:Additionally, the table below features some of the best savings and money market account rates available today from our verified partners. Between July 2023 and September 2024, the Fed maintained a target range for its federal funds rate of 5.25%–5.50%. However, as inflation cooled and the economy improved, the Fed slashed the federal funds rate by 50 basis points in September 2024. It cut another 25 bps in November, and in December, the Fed made its final rate cut of the year (25bps). The federal funds rate now stands at 4.25%-4.50%. As a result, money market rates have begun to decline. Further rate cuts are expected in 2025, which means now might be the last chance for savers to take advantage of today's higher rates. Read more: Can you lose money in a money market account? Considering that money market account rates are still elevated, these accounts are an attractive option for savers. Even so, deciding whether it's the right time to put money in a money market account also depends on your financial goals and the broader economic conditions. Here are some key factors to consider: Liquidity needs: Money market accounts offer easy access to your money since they often come with check-writing capabilities or debit card access (though there may be a cap on monthly withdrawals). If you need to keep your money accessible while still earning a decent yield, a money market account could be ideal. Savings goals: If you have short-term savings goals or want to build an emergency fund, a money market account can provide a safer place for your cash, with returns that are better than most traditional savings accounts. Risk tolerance: For conservative savers who prefer to avoid the ups and downs of the stock market, money market accounts are appealing because they are backed by FDIC insurance and can't lose principal. However, if you're saving for a long-term goal like retirement, riskier investments are necessary to generate higher returns that will get you to your savings target. Given that interest rates are still elevated, now could be a good time to consider a money market account, especially if you're seeking a balance of safety, liquidity, and better returns than traditional savings accounts. Comparing rates from different institutions will help you find the best options available. Today's money market account rates vary quite a bit across different financial institutions. Though the national average rate for an MMA is currently 0.64%, there are some banks offering well above 4% APY. In general, you won't find money market rates above 4.50%. Unfortunately, there are very few accounts that offer 7% interest. Those that do exist are limited-time promotions, and are typically found on checking accounts. There are currently no money market accounts that pay 7%.
Bloomberg
18 hours ago
- Business
- Bloomberg
FDIC Backs Plan on Key Bank Capital Rule Affecting Treasuries
The Federal Deposit Insurance Corp. advanced regulators' plan to ease a key capital rule that big banks have said limits their ability to act as intermediaries in the $29 trillion Treasuries market. The FDIC announced on Friday that it had backed the proposed revisions to what's known as the enhanced supplementary leverage ratio, which requires banks to hold a certain amount of capital relative to their assets.
Bloomberg
19 hours ago
- Business
- Bloomberg
US Regulators Says Comments on Key Bank Capital Rule Due Aug. 26
The US Federal Reserve and other bank regulators set an Aug. 26 deadline for public comments on a proposal to ease a key bank capital rule, saying they expect the amount of overall capital that big lenders would maintain as a result of their plan would 'generally stay the same.' 'Although certain depository institution subsidiaries could see greater reductions, that capital generally would not be available for distribution to external shareholders given the restrictions that apply at the bank holding company level,' the Fed said in a joint statement Friday along with the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency
Business Journals
21 hours ago
- Business
- Business Journals
Stimulating economic progress in Ohio through relationship-based community banking
As Ohio's economy evolves — bringing new industries, workforce challenges, and shifting development priorities — one element of economic stability remains constant: the local financial institutions working quietly behind the scenes to help businesses launch, expand, and adapt. Across Ohio, community banks play a critical, often underestimated role in that story. From helping a small manufacturer purchase equipment to financing the redevelopment of a Main Street property, community banks aren't just lenders — they're collaborators in local progress. Where relationships still matter While many national and global banks have moved toward automation and centralized decision-making, community banks continue to operate on a relationship-driven model. That local-first approach can make all the difference when timing, context, and regional insight matter. "Business lending isn't just about numbers — it's about knowing your community," says Shawn Keller, CEO of Buckeye State Bank, a locally owned and operated bank with headquarters in Powell. "We work with business owners every day who are deeply invested in their towns. They need a partner who's equally invested." Buckeye State Bank, formed by a diverse team of local business leaders in 2014, has grown steadily by remaining focused on its mission: to keep local dollars working locally. That philosophy continues to shape its work across Logan, Franklin, Delaware, Union, Wood, Lucas, and Ross counties. Community banks are small, but mighty Despite representing just 15% of the industry's assets, community banks are responsible for nearly 60% of all small business loans in the U.S., according to the FDIC. Their strength lies in flexibility—understanding local development pipelines, supporting generational businesses, and being agile enough to meet non-traditional financing needs. In Ohio's midsize towns and rural markets, that flexibility is increasingly important. Many projects — especially those tied to real estate, agricultural expansion, or light manufacturing — don't fit a one-size-fits-all lending box. Local lenders can underwrite with greater understanding, allowing opportunities to move forward that might otherwise stall. More than lending Today's community banks are about more than balance sheets. Many are active contributors to regional economic development initiatives, civic leadership, and small business education. For example, Buckeye State Bank is a founding sponsor of the Delaware County Economic Summit, an annual gathering of business leaders, developers, and policymakers focused on building collaborative strategies for regional growth. This year's summit, set for August 21 at Wedgewood Country Club, will focus on the current state of the Central Ohio economy and issues that impact every corner of the region. "Events like this are where collaboration begins," says Keller. "We don't just want to fund the future — we want to help shape it." Looking ahead As Ohio continues to attract national attention for its business-friendly environment and strategic logistics location, the role of local banks remains essential. But community banking is also changing. Institutions like Buckeye State Bank are blending traditional service models with modern tools to provide clients with both high-tech convenience and high-touch support. That balance, Keller says, is key to helping the next generation of business owners thrive. 'Our goal is to be responsive to the way people live and work today, without losing the personal service that defines us.' As Ohio communities continue to grow, so does the need for reliable, locally attuned financial institutions. Whether it's helping a startup find its footing or backing a longtime business through a transition, community banks remain an indispensable part of the economic development equation. Headquartered in Powell, Ohio, Buckeye State Bank is a local, employee-owned community bank, with approximately $473 million in assets as of March 31, 2025. Serving individuals and businesses across Ohio, Buckeye provides personal banking, commercial lending, and treasury services through a relationship-first approach that helps keep local dollars working for local impact. Learn more at .
