Rates Current as of Friday February 10, 2012

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Money Market Funds Investments – Examples of large quantities of Federal Agency Securities »

Money Market Funds Investments – Certificates of Deposit or CDs

A certificate of deposit entitles the holder to receive interest that may either variable or fixed. A bank CD carries a maturity date or term, a specified interest rate and can be issued in just about any amount. CDs are generally issued by commercial banks and are insured by the FDIC. The term of a CD generally ranges from one month to five years. A certificate of deposit is essentially promissory note from the bank to the CD account holder. In the banking regulatory environment these bank accounts are referred to as time deposits since these accounts restrict the account holders from withdrawing funds on demand. Although it is still possible to withdraw the money from a CD earlier than the term expiration, this action will often incur a early withdrawal penalty. Money market funds purchase bank CDs that are generally issued in large amounts. Typically these CDs are issued in $1 million increments.

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