CD Interest Rates Holding Steady at Record Lows

NEW YORK, Nov. 20, 2012 (GLOBE NEWSWIRE) -- RateWatch, a premier banking data and analytics service owned by TheStreet, Inc. (Nasdaq:TST), reported today that interest rates for savings products remain steady over the previous week with the national average rate for both 2 year and 3 year CDs slightly increasing by 0.01 percent based on data collected from over 90,000 financial institution locations.

The numbers reflect Federal Reserve monetary policy – which has pushed short-term rates to record lows in a bid to spark mortgage and corporate lending – as well as global supply and demand. With uncertainties in the Eurozone and China's growth, international investment continues to flow to the U.S., keeping interest rates consistently low.

Ben Bernanke, chairman of the Federal Reserve, said rates may continue to lower levels as a result of Congress and the administration coming to terms on a long-term fiscal policy. "A credible plan to put the federal budget on a path that will be sustainable in the long run could help keep longer-term interest rates low," Bernanke said today in an address to the Economic Club of New York, "and boost household and business confidence, thereby supporting economic growth today."

NATIONAL AVERAGE RESULTS - $10K

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.

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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