Combat Poverty Says No Frills Bank Accounts May Reduce Financial Exclusion (The Epoch Times)
Combat Poverty say no Frills Bank Accounts May Reduce Financial Exclusion
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Australian Central Bank Adds A$2.85 Billion to Money System (Bloomberg)
Oct. 13 (Bloomberg) -- Australia's central bank added A$2.85 billion ($1.9 billion) to the financial system, seeking to ease funding costs as banks hoard cash because of the global credit squeeze.
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Resist the impulse to flee stock market, financial planners say (Los Angeles Times)
Americans may be more worried about their investments than at any time since the Depression. And it's natural, planners say, for investors to want to do something at a time of crisis. A major Wall Street bank crumbles. A money fund tanks. The stock market retreats to levels not seen in years.
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Money-Market Funds: Now a Safer Haven (Washington Post)
Money-market mutual funds traditionally serve as ultra-safe parking places for cash while offering higher yields than regular bank checking accounts. Although deposits have never been guaranteed, there has always been an implicit promise that the value of each share would stay at $1. It was assumed...
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Biggest market rise in 9 years (The Courier Mail)
THE Australian stock market has recorded its biggest one-day rise in almost nine years, buoyed by the Government's measures to guarantee bank deposits.
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Some Pakistanis take money out of banks amid economic crisis (Gulf Times)
ISLAMABAD: Some Pakistanis have started cleaning out their bank lockers and dollar accounts, fearing a freeze due to the economic crisis gripping the country.
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Note: The full market wrap will only be available at Honest Money Gold & Silver Report starting this November. A shortened version will appear here. It was another wild week in the markets. Volatility was at levels seldom seen.
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Banking savvy that will help you sleep at night (The Post and Courier)
MIAMI — Bank failures! Stock market plunges! Bailouts! The news is enough to make the financially challenged wonder if it's time to stash cash under the mattress. "If I hear a bad rap on a bank and have my money in there, my first thought is to get it out," said Judy Schwam of North ...
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Are your accounts safe? (The State)
The turmoil in the financial markets has triggered a slew of questions from consumers worried about the safety of their money in financial services and investment companies. Is your brokerage account safe? There are multiple layers of protection for brokerage accounts. Brokerage firms are required to meet minimum net capital requirements to reduce the likelihood of insolvency, and to be ...
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Funds Turn To Treasury Guaranty (Washington Post)
Fifteen of the largest money-market mutual fund companies, which together account for three-quarters of the market, said this week that they would take up the Treasury Department on its offer of a temporary guaranty in an attempt to regain their status as one of the safest places to park cash.
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