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
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  2. 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 >>
  3. 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 >>
  4. For what types of accounts are demand deposits available?

    Learn about the different types of accounts designated as demand deposit accounts, such as savings accounts and money market ... Read Answer >>
  5. What are the Federal Reserve's guidelines on demand deposit accounts?

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