MMAs give you the liquidity of a checking account, while delivering yields rivaling savings accounts. Money market accounts (MMAs) are a popular choice for individuals looking to save their cash in a secure and flexible manner.
There's a good chance you've come across money market accounts when looking where to save your cash. Money market accounts are deposit accounts offered by banks and credit unions that typically provide higher interest rates compared to traditional savings accounts.
You could earn nearly 5% on a money market account right now. See what today's average and top rates are for money market accounts. The potential for higher yields is one of the main advantages of MMAs.
Both money market accounts and certificates of deposit (CDs) are great short-term investment options that can pay you more interest than a regular savings account. However, there are important differences between the two. CDs require you to lock in your money for a specific term, while MMAs offer more flexibility.
MMAs offer liquidity and flexibility, but you may be better served with a different bank account arrangement. Depending on your financial goals and needs, other types of accounts like high-yield savings accounts or checking accounts may be more suitable.
WASHINGTON—U.S. regulators rewrote the rules for money-market funds for the third time in 15 years in hopes of preventing bailouts in times of financial crisis. The aim is to increase the stability and resilience of the money market industry.
The U.S. Securities and Exchange Commission on Wednesday finalized rules aimed at increasing the resilience of the $5.5 trillion money market industry. These rules include requirements for money market funds to hold a portion of their assets in highly liquid securities.
Choosing the best money market account for your savings depends heavily on the annual percentage yield (APY) offered, in addition to relevant minimum requirements and fees. It's crucial to compare different options to find the one that suits your needs.
US money market funds escaped the threat of “swing pricing” on Wednesday after regulators opted instead to impose mandatory fees and larger buffers. This decision aims to prevent investors from rapidly withdrawing large sums, which could destabilize the fund.
