Yankee CD

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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 ?
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.