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Many people know that the Federal Reserve sets interest rates in order to loan money to other banks so they can keep cash flowing throughout the U.S. financial system. Mostly, this works great for everyone involved. But, sometimes, banks and thrifts need a little extra cash, mostly so they can meet the reserve requirement (the minimum amount of deposits banks need to be considered in good financial shape).
To meet the reserve, the Fed has what's known as the discount window, which allows banks to borrow money for a short period of time at a higher interest rate (called the discount rate) than the official Federal Funds rate.
It's called a window because it used to be an actual teller window, where banks would go to borrow from the federal government. Now, it's used more as a lender of last resort. In fact, banks prefer to borrow from one another than directly from the discount window, since the interest owed can be cheaper and going to the discount window tends to imply that the bank is in a spot of trouble.
The Fed, too, doesn't like banks borrowing this way, which is why the discount rate is always higher than the target rate. It also requires banks to collateralize the loans, meaning they have to turn over liquid assets, such as loans or CDs, to the Fed in order to get the money. As with any loan, the banks get the underlying collateral back when they pay off the balance.
Home / Markets / Industries / Retail
Tuesday, July 08, 2008
My Vintage Baby Premieres Maternity Wear for Spring 2009
Comtex
MCKINNEY, Texas, Jul 08, 2008 (BUSINESS WIRE) ----My Vintage Baby, Inc. (Pink Sheets:MVBY), a public children's apparel company, announced that, for the Spring of 2009, it will offer a new line of maternity tops that will complement My Vintage Baby's children's collection. This will be the Company's first venture beyond the unique and nostalgic children's apparel and accessories it is known for.
"Our vision is to encourage brand loyalty by introducing expectant mothers to our chic My Vintage Baby designs. The intent is to create even greater enthusiasm for our children's apparel by appealing to new mothers," stated Jessica Wiswall, the CEO of My Vintage Baby. "We are planning both short and long sleeve designs. This should generate year round demand, departing from the apparel industry's typically seasonal approach," she added.
The market launch will begin in August 2008 at various apparel shows throughout the U.S. Initially there will be three new designs available for mothers-to-be. It is anticipated that the new tops will be sold in the same boutiques as My Vintage Baby's children's wear, as well as in maternity wear departments and shops.
ABOUT MY VINTAGE BABY:
My Vintage Baby is recognized as "a piece of yesterday for the hip child of today." Its garments are designed with both new and vintage reproduction materials, each with its own nostalgic yet stylish look. The vision is to make each garment as unique as the children who wear them.
For more information regarding My Vintage Baby please visit: www.myvintagebaby.com.
Disclaimer:
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.
SOURCE: My Vintage Baby, Inc.
My Vintage Baby, Inc. Morgan Boatwright, 972-548-9850 ext. 3 invest@myvintagebaby.com
Copyright Business Wire 2008
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