Yankee Certificate Of Deposit

DEFINITION of 'Yankee Certificate Of Deposit'

A certificate of deposit issued by a foreign bank in the United States. As they usually have a minimum face value of $100,000, Yankee certificates of deposit are generally used by institutional and other large investors looking to invest funds in instruments with a relatively high degree of safety, although they are unsecured.

BREAKING DOWN 'Yankee Certificate Of Deposit'

Yankee certificates of deposit can most often be found in New York financial markets. They are generally negotiable, which enables them to trade in a secondary market. Typically, they have a maturity of less than a year.

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RELATED FAQS
  1. How do you get a hard copy of a stock certificate?

    Before online brokers and personally-directed accounts, holding a physical stock certificate was a necessity, as this was ... Read Answer >>
  2. What is the difference between a demand deposit and a term deposit?

    Understand the meaning of demand deposits and term deposits, and learn about the major differences between these two types ... Read Answer >>
  3. What are the typical durations for a certificate of deposit?

    Investing in a certificate of deposit offers individuals the ability to earn interest on idle funds with less risk than stock ... Read Answer >>
  4. Can I pass on the stock certificates to my son in my will?

    I was told I could get stock certificates from the company that I retired from. Will my son get the st... Read Answer >>
  5. What determines the interest rate in my money market account?

    Placing funds in a money market account may provide a higher interest rate than a savings account due to the underlying securities ... Read Answer >>
  6. Besides a savings account, where is the safest place to keep my money?

    Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) ... Read Answer >>
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