Brokered CD

(redirected from Brokered Certificates of Deposit)

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 ?
Total deposits declined slightly over the linked quarter, to USD553m at June 30, 2012, as the Bank favorably restructured certain brokered certificates of deposit issued for interest rate risk management purposes to take advantage of record-low, long-term interest rates.
Total deposits were relatively unchanged from a year earlier, but at March 31, 2012, the company had no brokered certificates of deposit compared with USD16.
today announced that Capmark Bank, its wholly owned subsidiary and a Utah-chartered industrial bank, transferred to another FDIC-insured bank approximately $827 million (in aggregate principal amount) of Capmark Bank's brokered certificates of deposit ("CDs"), which represent all of Capmark Bank's CDs maturing in October 2013 or later.
3m during the third quarter of 2011, primarily due to the bank's calling and redeeming USD3m of brokered certificates of deposit, an USD3.
2 million coming from callable brokered certificates of deposit and $11.
5 million in brokered certificates of deposit and an increase of $19.
risks associated with the soundness of other financial institutions; changes in the Corporation's expenses associated with acquisitions and dispositions; developments in technology; the impact of Doral Financial Corporation's financial condition on the repayment of its outstanding secured loans to the Corporation; the Corporation's ability to issue brokered certificates of deposit and fund operations; risks associated with downgrades in the credit ratings of the Corporation's securities; general competitive factors and industry consolidation; risks associated with regulatory and legislative changes for financial services companies in Puerto Rico, the United States, and the U.
capital markets, which may reduce interest margins, impact funding sources and affect demand for the Corporation's products and services and the value of the Corporation's assets, including the value of the interest rate swaps that economically hedge the interest rate risk mainly relating to brokered certificates of deposit and medium-term notes as well as other derivative instruments used for protection from interest rate fluctuations; uncertainty about the impact of measures adopted by the Puerto Rico government in response to its fiscal situation on the different sectors of the economy; uncertainty about the effectiveness and impact of the U.
capital markets which may reduce interest margins, impact funding sources and affect demand for the Corporation's products and services and the value of the Corporation's assets, including the value of the interest rate swaps that economically hedge the interest rate risk mainly relating to brokered certificates of deposit and medium term notes as well as other derivative instruments used for protection from interest rate fluctuations; uncertainty about specific measures that could be adopted by the Puerto Rico government in response to its fiscal situation and the impact of those measures in several sectors of Puerto Rico's economy; uncertainty about the effectiveness and impact of the U.
capital markets which may reduce interest margins, impact funding sources and affect demand for the Corporation's products and services and the value of the Corporation's assets, including the value of the interest rate swaps that economically hedge the interest rate risk mainly relating to brokered certificates of deposit and medium-term notes as well as other derivative instruments used for protection from interest rate fluctuations; uncertainty about the effectiveness and impact of the U.