Negotiable Certificate Of Deposit (NCD)
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Definition of 'Negotiable Certificate Of Deposit (NCD)'
A certificate of deposit with a minimum face value of $100,000. These are guaranteed by the bank and can usually be sold in a highly liquid secondary market, but they cannot be cashed-in before maturity.
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Investopedia explains 'Negotiable Certificate Of Deposit (NCD)'
Due to their large denominations, NCDs are bought most often by large institutional investors. Institutions often use these as a way to invest in a low-risk, low-interest security.
A Yankee CD would be one example of a NCD.
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Search results for 'Negotiable Certificate Of Deposit (NCD)'
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http://www.investopedia.com/exam-guide/finra-series-6/investment-securities/corporate-financial-institution-instruments.asp
... exam. Certificate of Deposit (negotiable): Negotiable CDs - Negotiable CDs are time deposits with a minimum face value of $100,000. ...
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