This is overdraft protection. It represents a deposit account that allows the transfer of funds from the savings to the checking. This covers a check or allows you to maintain a minimum balance.
Fundamentally, this combines your checking and savings during times of troubles. Try not to drain that bank account!!! That's why we keep our savings at a different bank...
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Finance: What is AMBAC?9 Views
Finance allah shmoop what is am back and back You
know with that from poltergeist You know the scene where
the ghost appears for the tv set You know the
movie steven spielberg and all that you are Well guess
not Well ambac stands for something fastly less exciting than
ghosts It is the american municipal bond assurance corporation And
if you did something really bad in a former life
you have to come back and run this thing And
what is it Well it's basically a life insurance company
for bombs particularly munich bonds insurers underwriters investors and others
pay a relatively small fee to ensure the bonds in
which they invest and in return and back keeps a
bunch of dough in their pockets ready to step in
Should bond get close to the red line of not
being able to Hey it's interest knocking on the door
of deadbeat land Well am back is an actual publicly
traded corporation ticker a mbc who was destroyed in the
financial crisis of await no nine finally having to declare
bankruptcy itself ironically in two thousand thirteen with all due
irony inserted here and a little bit of snicker it
emerged from that mass with new management and vision and
a massive infusion of cash onto its balance sheet Will
am back Is sort of like the crazy uncle with
a bunker made of concrete thirty feet underground in central
new mexico waiting for that big one Just to be
sure humans remain around to populate the earth For the 00:01:28.178 --> [endTime] you know unclear Future doctor Strange Whoa
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