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A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
The Certificate of Deposit Account Registry Service (CDARS), was a US for-profit service that broke up large deposits (from individuals, companies, nonprofits, public funds, etc.) and placed them across a network of more than 3000 banks and savings associations around the United States.
Obtaining a certificate is voluntary in some fields, but in others, certification from a government-accredited agency may be legally required to perform certain jobs or tasks. Organizations in the United States involved in setting standards for certification include the American National Standards Institute (ANSI) and the Institute for ...
A brokered certificate of deposit is a CD account issued by banks or credit unions but sold through a brokerage firm or financial advisor, rather than from the bank itself. Brokerage firms work ...
There are a number of sectors in which banks may be involved. The general bank license allows a bank to engage in all banking activities, such as retail banking, merchant acquiring, cash management, asset management and trading. An applicant can apply for a limited banking license, such as an offshore banking license. [2]
Certified funds are a form of payment that is guaranteed to clear or settle by a bank or other financial institution certifying the funds. [1] [2] The term is most commonly used in North America in the context of real estate transactions.
A certified check (or certified cheque) is a form of check for which the bank verifies that sufficient funds exist in the payer's account to cover the check, and so certifies, at the time it is written. Those funds are then set aside in the bank's internal account until the check is cashed or returned by the payee.
a bank, insurance company, registered investment company, business development company, or small business investment company; an employee benefit plan, within the meaning of the Employee Retirement Income Security Act , if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets ...