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.
, capital transfer strategies, insurance annuities and wealth protection programs for members are just a few of these.
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.