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Federal Reserve Open Market Committee Meetings May End Monthly Sales of Short-Term Securities

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NEW YORK, Dec. 4, 2012 (GLOBE NEWSWIRE) -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (Nasdaq:TST) reported today that average interest rates for 1 month and 4 year CDs increased 0.01 percent while overall interest rates on savings products remain low.





The Federal Reserve has indicated that it is likely to keep its short-term federal funds target range within the current range of zero to 0.25% until at least 2014. The federal funds rate has been in this historically narrow range since late 2008.

As part of its third major round of quantitative easing announced in September, the Fed is also purchasing $40 billion in long-term mortgage backed securities each month, while continuing to purchase roughly $45 billion in long-term Treasury securities each month, while selling an equivalent amount of short-term Treasury paper, as part of its ongoing effort to hold long-term rates down, and keep the yield curve as flat as possible. This program is known as "Operation Twist."

Some analysts are expecting the Federal Reserve Open Market Committee to announce a change of direction after its next round of meetings on Dec. 11 and Dec. 12, possibly ending its monthly sales of short-term securities early in 2013. With two-year treasury notes already trading at yields of roughly 25 basis points, a Federal Reserve policy change of this type would be unlikely to push short-term rates even lower, however, an accelerated expansion of the central bank's balance sheet would likely cause a stir in Washington.

NATIONAL AVERAGE RESULTS - $10K

This week Last week
Money Market 0.13 0.13
1 month CD 0.07 0.08
3 month CD 0.11 0.11
6 month CD 0.17 0.17
1 year CD 0.27 0.27
2 year CD 0.43 0.43
3 year CD 0.58 0.58
4 year CD 0.71 0.72
5 year CD 0.92 0.92

TOP RATE ISSUERS - $10K

This is a list of issuers with top interest rates. The issuer's Financial Strength Rating is an independent, unbiased evaluation of quarterly regulatory statements. Institutions are assigned a letter grade of A-E with "A" representing the highest rating based on a review of many aspects of financial safety including capitalization, asset quality, profitability and liquidity. For more information, visit www.weissratings.com/help/what-our-ratings-mean.aspx. Information is believed to be accurate, but not guaranteed.

Money Market Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Sallie Mae Bank
801-281-1423 A- 1 1.050
www.salliemaebank.com
Green Bank, National Association
713-275-8370 C 500 1.000
www.greenbank.com
Ally Bank
877-247-2559 B 1 0.950
www.ally.com
1 Month CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Carter Bank & Trust
828-325-9800 C 2500 0.750
www.carterbankandtrust.com
First NBC Bank
504-671-3550 C+ 1000 0.510
www.firstnbcbank.com
Pinnacle Bank
402-529-3581 B- 500 0.500
www.pinnbank.com
3 Month CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Carter Bank & Trust
828-325-9800 C 2500 0.750
www.carterbankandtrust.com
Eloan.com
888-533-5333 D+ 10000 0.650
www.eloan.com
EverBank
888-882-3837 D 1500 0.570
www.everbank.com
6 Month CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Carter Bank & Trust
828-325-9800 C 2500 1.000
www.carterbankandtrust.com
Doral Bank
212-329-3700 E+ 1000 0.910
www.doralbankdirect.com
Beal Bank USA
702-598-3500 B 1000 0.750
www.bealbankusa.com
1 Year CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Beal Bank USA
786-347-3601 B 1000 1.110
www.bealbankusa.com
Carter Bank & Trust
828-325-9800 C 100 1.100
www.carterbankandtrust.com
Doral Bank
212-584-6820 E+ 500 1.100
www.doralbankny.com
2 Year CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Doral Bank
212-584-6820 E+ 500 1.400
www.doralbankny.com
First Bank of Montana
406-357-2244 C 500 1.250
www.1stbmt.com
FirstBank Florida
305-740-9522 D 1000 1.250
www.firstbankfla.com
3 Year CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
First NBC Bank
504-671-3550 C+ 10000 1.970
www.firstnbcbank.com
Signature Bank
646-822-1500 B+ 5000 1.660
www.signatureny.com
Doral Bank
212-584-6820 E+ 500 1.550
www.doralbankny.com
4 Year CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
Institution for Savings In Newburyport
978-462-3106 B 1 1.750
www.institutionforsavings.com
Yakima Federal Savings & Loan Association
509-248-2634 A- 10000 1.750
www.yakimafed.com
First Guaranty Bank
985-345-7685 C- 500 1.700
www.fgb.net
5 Year CD Financial
Strength
Rating
Minimum
to Earn
Interest
APY
First NBC Bank
504-671-3550 C+ 10000 2.120
www.firstnbcbank.com
Institution for Savings In Newburyport
978-462-3106 B 1 2.000
www.institutionforsavings.com
Compass Bank
205-297-1986 D+ 5000 2.000
www.bbvacompass.com

Financial Strength Rating: A=Excellent, B=Good, C=Fair, D=Weak, E=Very Weak

Plus sign "+" = top of range, Minus sign "-" = bottom of range

Data is surveyed weekly with averages calculated each Monday afternoon from RateWatch's unbiased national interest rate survey of over 90,000 financial institution locations across the United States.

About RateWatch

For over 20 years, RateWatch has been the premier provider of competitive interest rate and product information to financial institutions across the United States. Consistently providing top quality, highly relevant data RateWatch maintains the largest database in the industry with deposit, loan, and fee information monitoring over 90,000 locations. Rate surveys, product comparisons, financial strength reporting, local/regional/national averages, fee reporting, specialty reports and more are available. To learn more about RateWatch, visit www.rate-watch.com. RateWatch is a division of TheStreet, Inc.

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Source:TheStreet, Inc.