Bernanke acknowledges that low interest rates could impair financial stability

TheStreet and RateWatch Report Top CD Rate Issuers

NEW YORK, Feb. 26, 2013 /PRNewswire/ -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (NASDAQ: TST) reported today that interest rates for savings products remained the same over the previous week with the national average on a 4-year and 5-year CD decreasing by 0.01 percent based on data collected from over 90,000 financial institution locations.

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CD rates have generally remained unchanged at record-low levels. The Federal Reserve has continued to keep the short-term federal funds rate at a range of zero to 0.25% since late 2008. Federal Reserve Chairman Ben Bernanke's testimony to Congress on Tuesday suggested that the central bank would continue to keep interest-rates low. Bernanke also acknowledged that the policy-making wing of the Fed understands that low interest rates for a "considerable" amount of time could impair financial stability.

TheStreet's economist, Joe Deaux, states, "Bernanke's comments led economists and analysts to suggest that the central bank's highly accommodative monetary policy would remain in effect at least through 2013, which is a pivot in sentiment from last week's Fed announcement that "many" central bank members thought monetary stimulus should begin to scale back during 2013. Status quo purchasing of $85 billion a month in longer-term Treasuries and mortgage-backed securities would likely extend the Fed's commitment to keep interest rates low."

NATIONAL AVERAGE RESULTS - $10K


This week

Last week

Money Market

0.12

0.12

1 month CD

0.06

0.06

3 month CD

0.10

0.10

6 month CD

0.16

0.16

1 year CD

0.25

0.25

2 year CD

0.40

0.40

3 year CD

0.54

0.54

4 year CD

0.66

0.67

5 year CD

0.85

0.86

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.

Money Market

Financial

Strength

Rating

Minimum

to Earn

Interest

APY

Sallie Mae Bank

A-

1

0.950

801-281-1423

www.salliemaebank.com

Ally Bank

B+

1

0.900

877-247-2559

www.ally.com

Customers Bank

C-

10000

0.800

610-933-2000

www.customersbank.com

1 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest

APY

First NBC Bank

B-

1000

0.510

504-671-3550

www.firstnbcbank.com

Pinnacle Bank

B-

500

0.500

402-529-3581

www.pinnbank.com

Carter Bank & Trust

C+

2500

0.500

828-325-9800

www.carterbankandtrust.com

3 Month CD

Financial

Strength

Rating

Minimum

to Earn

Interest

APY

Eloan.com

C-

10000

0.650

888-533-5333

www.eloan.com

EverBank

D+

1500

0.590

888-882-3837

www.everbank.com

Beal Bank, SSB

C

1000

0.511

205-202-8511

www.bealbank.com

6 Month CD

Financial

Strength

Rating

Minimum

 to Earn

 Interest

APY

Doral Bank

E+

500

0.890

212-329-3700

www.doralbankdirect.com

CapitalSource Bank

B

10000

0.800

888-433-4272

www.capitalsourcebank.com

Beal Bank USA

B-

1000

0.750

702-598-3500

www.bealbankusa.com

1 Year CD

Financial

Strength

Rating

Minimum

to Earn

Interest

APY

Beal Bank USA

B-

1000

1.110

786-347-3601

www.bealbankusa.com

Sallie Mae Bank

A-

1

1.050

801-281-1423

www.salliemaebank.com

Doral Bank

E+

500

1.050

850-914-2525

www.doralbankflorida.com

2 Year CD

Financial

Strength

 Rating

Minimum

 to Earn

 Interest

APY

Doral Bank

E+

500

1.300

850-914-2525

www.doralbankflorida.com

FirstBank Florida

D+

1000

1.250

305-740-9522

www.firstbankfla.com

Nationwide Bank

B+

TheStreet, Inc.: (TST)   $1.91

- 0.03(1.546%)
Wednesday, May 27, 2015 - 04:00 PM

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