We ran into this nifty little explanation of APY vs. 7-day yield on the blog, Finaxyz (http://finaxyz.blogspot.com/2006/10/comparing-7-day-yield-and-apy.html), run by Jack Krupansky. Keep up the good work Jack!
Archive for March, 2007
My news post today at http://www.cranedata.us asks whether the FDIC, the Federal Deposit Insurance Corporation, is asleep at the switch in allowing banks to pay above-market interest rates on their deposits. Look at Crane Data’s, bankrates, Banxquotes, Informa Research Services, or any bank tracking companies list of the top-yielding bank money market deposit or savings accounts, and you’ll see a number of companies mentioned alongside headlines discussing subprime mortgage troubles.
While noone thinks Countrywide, HSBC, AmTrust, etc. are in grave danger, you have to wonder whether the regulators are watching yields closely enough. In the past, almost every single instant of a major market problem has occurred to a former No. 1 ranked bank, fund, whatever. Allowing these banks to pull assets from stronger but saner-paying competitors is a threat to the taxpayer’s pocketbook! And it unfairly allows banks to compete with normally higher-yielding money market mutual funds.
Crane Data LLC just launched the third iteration of our website at http://www.cranedata.us. The new version contains information on several new products, including the $100 Crane Corporate, Crane Index, and our Custom Consulting. (Check our new product matrix for details: http://www.cranedata.us/products/overview/.) The site now allows Search on the entire www.cranedata.us news, link and resource archives; it also allows Search on the archives of Money Fund Intelligence and MFI XLS (subscriptions required to access).
Our new “Subscriptions” area allows subscribers and registrants to update their profiles, view their order history, access additional information and download and browse archives of Crane Data products, such as Money Fund Intelligence. We encourage visitors to send their feedback and additional requests to info@cranedata.us!
