Brokered CD

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 does not need to pay an artificially high national brokered CD rate to attract new funds.
Several years ago, the brokered CD rates might have been considered a crude indicator of potential value of at least some of the financial instruments represented by deposit and core repurchase agreements.
Saxon Securities teamed with Envestnet to offer its Federal Deposit Insurance Corp.-insured brokered CD portfolios on the Envestnet platform.
Core deposits, which we consider to include all deposits other than CD's and brokered CD's, increased by $51.81 million from $1.01 billion at December 31, 2015 to $1.06 billion at March 31, 2016.
Brokered CDs were reduced by $24 million and all short term borrowings were repaid in 2017.
It initially can be used 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.e., employer rollovers or transfers).
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.e., employer rollovers or transfers).
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.
Higher yields can also be obtained from brokered CDs. These are larger denomination bank CDs ($1,000 and up) that are purchased through brokers who shop nationally for the highest available rates.
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.