Yankee CD

Yankee CD

A CD issued in the domestic market, typically New York, by a branch of a foreign bank.

Yankee CD

A foreign certificate of deposit denominated in U.S. dollars and issued in the United States. In order to raise capital from American investors, a non-American company may choose to issue a CD in the United States. See also: Yankee bond.
References in periodicals archive ?
After the successful launch of our Yankee CD Program?Agricultural Bank of China, New York Branch recently completed the first issuance of Yankee CD.
The successful establishment of the Yankee CD program enables ABC s New York Branch to diversify source of funding, reduce the funding cost, while help establishing the ABC s reputation in the local and international market.
Officials have dropped him a signed copy of a Daddy Yankee CD, because he is a huge fan of the Puerto Rican rapper.
At branches and agencies of foreign banks, large time deposits (Yankee CDs), having decelerated sharply from last year's rapid growth, have been flat this year.
The issuance of these "Yankee CDs" resulted from the reduction in December of the reserve requirement on nonpersonal time deposits and net Eurocurrency deposits from 3 percent to zero.