Berkeley CSUA MOTD:Entry 54734
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2017/10/21 [General] UID:1000 Activity:popular
10/21   

2013/8/29-11/7 [Finance/Banking] UID:54734 Activity:nil
8/29    Applying for a home loan now. The loan officer keeps asking why
        I wrote large amounts of check, and what they're for, and fax
        her proof to support what I said. She said loan regulations have
        tightened a lot to prevent money laundry. What is the max amount
        of money I can transfer these days without triggering annoying
        audits? I am not a terrorist.
        \_ Banks have to file a SAR for any amount over $10k.
           \_ What if I do a couple of $10k a day? Is that ok?
              \_ Not only will that still trigger the reporting, it's illegal.
                 http://en.wikipedia.org/wiki/Structuring
              \_ Just do 10k/day
                 \_ See above: this is illegal, and also probably won't work.
                    \_ How about bitcoins?
           \_ Does that include transferring between accounts owned by my
              and/or my wife, all of which in US institutions?
        \_ from the aspect of loan approval, they just want to make sure
           you aren't playing funny games like making private unreported
           loans or trying to artificially increase your apparent assets by
           shuffling money around.
2017/10/21 [General] UID:1000 Activity:popular
10/21   

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2013/7/31-9/16 [Reference/RealEstate, Finance/Investment] UID:54720 Activity:nil
7[31    Suppose you have a few hundred thousand dollars in the bank earning
        minimum interest rate and you're not sure whether you're going to
        buy a house in 1-5 years. Should one put that money in a more
        risky place like Vanguard ETFs and index funds, given that the
        horizon is only 1-5 years?
        \_ I have a very similar problem, in that I have a bunch of cash
	...
2013/5/13-7/3 [Finance/Banking] UID:54676 Activity:nil
5/13    Does FDIC ever matter? How likely is it that your deposit of
        over $250k going to be screwed over in a major US bank?
        \_ Was Washington Mutual a major bank?
        \_ Was Washington Mutual a major US bank?
        \_ Hahahahahahahahahahaha. Good one.
        \- As with nuclear weapons, this insurance produces much of its value
	...
2013/3/9-4/16 [Finance/Banking] UID:54621 Activity:nil
3/9     In a 15/30 year loan, the amount of payment stays the same but
        the payment on interest decreases while the principal increases.
        Suppose I decide to pay off a huge chunk of principal, will
        the amount of interest I need to pay decrease drastically, or
        do banks still want to take out a huge chunk of interest rate?
        \_ You don't actually have separate "interest" and "principal"; you
	...
2011/11/27-2012/1/10 [Finance/Banking] UID:54243 Activity:nil
11/27   Whoa, since when did FDIC coverage go up to $250,000? That's cool.
        So is this coverage per customer per bank, per account per bank,
        total per person, etc?
        \_ I believe that it is per customer per bank. Not 100% sure though.
           \_ Yes, and you can get even more with joint accounts, etc.:
              http://www.fdic.gov/deposit/deposits/dis/index.html
	...
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en.wikipedia.org/wiki/Structuring
capital controls, which are statutory or regulatory limits on the money that one can take out of a nation, though they can have some of the same economic effects in some economies, as structuring controls effectively limit the flow of capital by magnitude and duration, and can apply equally to taking money out of a nation as well as putting money into its finance system. pseudoephedrine purchase limits in US are too low for mass meth production, this practice often involves using multiple "smurfs". As Robert Pennal of the Fresno Meth Task Force explains: Then we started seeing "smurfing." We started getting calls from different retail stores that people were buying two or three packs -- that's the most you can buy -- and they went to one store, they bought three, they went to another store, bought three. clarification needed Minimum Value of Currency or Monetary Instruments 2 For the purposes of reporting the importation or exportation of currency or monetary instruments of a certain value under subsection 12 of the Act, the prescribed amount is $10,000. The prescribed amount is in Canadian dollars or its equivalent in a foreign currency, based on the official conversion rate of the Bank of Canada as published in the Bank of Canada's Daily Memorandum of Exchange Rates that is in effect at the time of importation or exportation; or if no official conversion rate is set out in that publication for that currency, the conversion rate that the person or entity would use for that currency in the normal course of business at the time of the importation or exportation. Whereas anti-structuring regulations are more concerned with limiting the size of domestic transactions for individuals and somewhat limiting the outbound foreign currency transfers of firms or company entities. automated teller machines often fail to fully disclose the fact that the Cooks are not part of the New Zealand banking system. There are structuring regulations in the Cook Islands, but they are not the same as NZ.