is expecting a continued trend toward portfolio diversification with foreign currency time deposits
(FCTDs), which are FDIC-insured, interest-bearing accounts that enable investors to maintain a foreign currency balance without having to open a bank account in a foreign country.
For prospective clients, the key benefit will be a marked reduction in the levels of document submission as a result of the elimination of Time deposit
Deposits of more than 10 million yen per account break down into 127 trillion yen in time deposits
, 62 trillion yen in ordinary deposits and 55 trillion yen in other types of savings.
Sum of (1) large time deposits
, (2) institutional money fund
These six-month time deposits
-- accounting for one-third of the frozen funds -- mature at the end of this month, and the bank intends to unblock them in a bid to ease liquidity in the cash-starved market.
4 billion, while time deposits
increased by NT$108.
In contributing to the M2 growth, the balance of quasi-money, which includes time deposits
, rose 3.
Yanagisawa was speaking about the possible reaction of depositors to the abolition of the government's full-refund guarantee on time deposits
There is a penalty for early withdrawal from the time deposit
M2 and M3 changed little in May and appeared to have contracted in June; both retail and large-denomination time deposits
continued to run off rapidly.
This is achieved by investing in a low-risk and diversified set of money market securities, denominated in USD, such as certificates of deposit, time deposits
, bankers' acceptances, asset-backed securities (including ABCP), commercial paper, repos, and medium-term notes.
Along with stock-market downturn, market funds would flow to time deposits
, driving down M1B supply growth.