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The Primary Market Corporate Credit Facility (PMCCF) was a special purpose vehicle (SPV) created on March 23, 2020 by the Federal Reserve designed to maintain credit flow to large employers in the face of the COVID-19 crisis. The Fed lent money to the SPV, which made loans to investment grade companies and bought corporate bonds…
Who is Spoofy? Spoofy is a mysterious trader allegedly involved in manipulating cryptocurrency exchanges. Spoofy is named after identity thefta strategy considered illegal in stock exchanges. Key points to remember Spoofy is the name given to an unknown trader who, in 2017, was suspected of manipulating prices on the Bitfinex trading platform. The name “Spoofy”…
What is the Term Asset-Backed Securities Lending Facility (TALF)? The Term Asset-Backed Securities Lending Facility (TALF) was a program created by the US Federal Reserve in November 2008 to stimulate consumer spending to help revive the economy. He did this by making loans to banks using asset-backed securities (ABS) as a guarantee. The collateral for…
The Municipal Liquidity Facility (MLF) was a Federal Reserve (Fed) to buy up to $500 billion in debt from state and local governments that have suffered reduced revenues as a result of the COVID-19 pandemic. Under this program, the Fed purchased short-term securities municipal notes states and the District of Columbia, certain city and county…
The benefits explained No monthly fees on savings account: Although the savings account has a minimum opening deposit requirement, there are no monthly fees or minimum balance requirements once the account is opened. Competitive rates on savings and CDs: Popular Direct offers competitive rates on savings accounts and CDs. Disadvantages Explained No credit card access…
What is Footsie Footsie is slang for the Financial Times-Stock Exchange 100 Share Index (FTSE 100). BREAK Footsie The Footsie is an index that tracks the 100 largest public companies in market capitalization which are traded on the London Stock Exchange (LSE). The FTSE 100 represents more than 80% of the market capitalization of the…
What is cost per click (CPC)? Cost per click (CPC) is an online advertising revenue model that websites use to charge advertisers based on the number of times visitors click on a display ad attached to their sites. The main alternative is the cost per thousand (CPM), which charges for 1,000 ad impressions (or views)…
Live Lindsay VanSomeren is a respected personal finance writer whose work has appeared on Forbes Advisor, Northwestern Mutual, MassMutual, LendingTree, Credit Karma, Credit Sesame and The Balance. Lindsay’s expert personal finance knowledge grew out of her own personal finance journey. After a major financial setback in 2015, she honed her financial knowledge and translated that…
Understanding Mortgage Refinance Rates Mortgage refinance rates refer to the interest rates offered to homeowners looking to replace their existing mortgage with a new one. By refinancing, homeowners often seek to secure a lower rate, reduce monthly payments, or change the loan term. In 2024, mortgage refinance rates vary due to multiple economic factors, making…