Brokered CD

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Brokered CD

A certificate of deposit issued by a bank or thrift institution bought by a brokerage firm in bulk for the purpose of reselling to brokerage customers. A broker CD features a higher interest rate, usually 1% higher, and are FDIC insured and do not usually have commissions.

Brokered CD

A certificate of deposit (CD) that one buys through a brokerage. A bank originates the CD, which a brokerage then buys and sells to its clients, usually in smaller pieces. A brokered CD pays a higher interest rate than most CDs to which a small investor has access, and may be traded. As with all CDs, they are insured by the FDIC.

brokered CD

A certificate of deposit of a commercial bank or savings and loan that is sold through an intermediary (usually a brokerage firm) rather than directly by the savings institution itself. Small investors can frequently obtain rates paid on very large certificates through brokered CDs, which are generally sold in $1,000 units.
References in periodicals archive ?
It can initially be for cash and bank deposits only, but later will include a "limited product set, such as money funds, brokered CDs and concentrated stock positions (i.
Under this agreement, approximately USD16bn of deposits, which are comprised of online savings accounts, online Certificates of Deposit (CDs) and brokered CDs, have been transferred.
GE (NYSE:GE) said it has taken a step toward exiting the US banking system by selling its GE Capital Bank's US online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA.
US-based manufacturing and financial services company GE (NYSE: GE) has inked an agreement to sell GE Capital Bank's US online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA, the company said on Thursday.
Unlike the typical CD, the funds in brokered CDs can often be accessed early and without a bank-imposed penalty by having a broker sell them in secondary markets.
Brokered CDs, capital transfer strategies, insurance annuities and wealth protection programs for members are just a few of these.
Brokered CDs and 403b accounts are two ways new money has come to Kern Schools, Seyfert noted, adding the CU's investment program's success has hinged on offering products and services that best suits the cooperative's unique member base.
Many of these small banks also engaged in brokered CDs, which banking agencies maintained have proved their undoing, figuring also in other 2009 failures.
5 billion of brokered CDs and approximately $800 million of retail and institutional CDs, after accounting for anticipated maturities.