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The money market savings account interest rate was 2.5 percent during the third quarter of 2002. The average balance on hand at First State Bank during the year was $176,962 for the interest-bearing accounts and $60,284 for the non-interest-bearing accounts. The money market investments must be made through designated state depositories. The money market account is a handy place to keep funds not currently invested, but which you may wish to reinvest soon. Money market accounts pay a higher interest rate than either checking or savings accounts.

Money-market loans may be due in a few days, a few weeks or a few months, but never more than a year. Thus, short-term certificates of deposit are considered to be in the money market. Money-market rates bottomed out at about half a percent.

Mutual funds are extensively regulated at the Federal level under the Investment Company Act of 1940. Mutual Fund: A fund operated by an investment company that raises money from shareholders and invests it in stocks, bonds, options, futures, currencies or money market securities. Such a fund offers investors the advantages of diversification and professional management. Mutual fund and money market fund holdings evidenced by stock certificates are allowed as a deduction in computing the additional tax base. Money market accounts are not deductible.

Investors should have better control over the destiny of their money and that is what I hope to accomplish by adding this to the portfolio of options. Investment 9-3 activities of the pool and transactions between pools and 9-4 participants shall be reported annually in the registration 9-5 statement required by Section 3, Article 21.49-1 of this code. The importance of this legislation and the 10-12 crowded condition of the calendars in both houses create an 10-13 emergency and an imperative public necessity that the 10-14 constitutional rule requiring bills to be read on three several 10-15 days in each house be suspended, and this rule is hereby suspended. Investor confidence will return liquidity to this market.

Shares of the Money-Market Fund are offered and sold to individuals and other members of the general public. Share capital that is rate sensitive should be carefully invested in liquid assets with a profitable return. Having sufficient liquid assets to meet loan demands or share withdrawals is no longer sufficient even for small credit unions. Shareholders approved the termination of the investment management agreement between applicant and its investment adviser, and applicant's board of directors terminated its management contract with the outside investment adviser effective November 30, 2001, and authorized applicant's officers to manage applicant's business affairs. Applicant states that none of these subsidiaries are investment companies as defined in section 3(a) of the Act.

Bankers used the term in the 1970s to describe how securities markets displaced corporate banking and how money market funds captured a large portion of deposits from retail banks. What is new is t he nature of the disintermediation that is driven by the new economics of information, and its speed and impact on existing intermediaries. Banks targeting this sector need to extend their offering beyond a traditional retail bank offering: more product bundling, stronger and multi-channel customer and advisor service options and deeper understanding of customer data. Click here to read more and download this SlidePack. Bank of America invested $2 billion in troubled mortgage company Countrywide Financial in the form of convertible preferred shares which, if converted, would give Bank of America a 16-17% stake in Countrywide. Countrywide is the largest mortgage company, originating or funding about one out of six mortgages.