Certificate of Deposit (CD). 10.4.1. For the purposes of the present chapter, terms, used in the present agreement and/or in the agreement/covenant processed in its scope/on its basis, unless otherwise deriving from the context or determined by the respective agreements/covenants, shall have the following meanings:
10.4.1.1. certificate of deposit – standard and/or non-standard certificate(s) of deposit emitted by the bank in the dematerialized form, determining the commitment of the bank to pay to the holder of the certificate of deposit, on the day determined by the terms of the certificate of deposit, the amount envisaged by the term of the certificate of deposit (face value).
10.4.1.2. standard certificate of deposit - certificate of deposit emitted by the bank in accordance with the Order of the President of the National Bank of Georgia N 49/04 dated May 3, 2012 on “Approval of the provisions on standard deposit certificates of the commercial banks”.
10.4.1.3. non-standard certificate of deposit – certificate of deposit emitted by the bank, which does not correspond with the requirements of the National Bank determined for the standard certificates of deposit.
10.4.1.4. zero-coupon (discounted) CD – type of the certificate of deposit, in case purchased by the client, the settlement amount payable by the client and envisaged by the terms of the certificate of deposit, shall be determined under the beneficial terms as compared with the face value. The amount of the accruable interest shall be determined in the amount of balance existing between the face value and the settlement amount (purchase price), which, the client shall receive along with the settlement amount paid by him/her/it, by the end of the effective term of the certificate of deposit;
10.4.1.5. coupon (interest bearing) CD – type of the certificate of deposit, if purchased, the client shall pay the settlement amount envisaged by the terms of the certificate of deposit, which represents the face value of the certificate of deposit by the time of the initial placement of the certificate of deposit. For the period determined by the agreement, the interest shall be accrued to the indicated amount, which the client shall receive with the periodicity determined by the terms of certificate of deposit, the face value shall be received by the end of the effective term of the certificate of deposit;
10.4.1.6. amount of the certificate of deposit (settlement amount) – the amount paid by the holder of the certificate of deposit f...
Certificate of Deposit (CD). For the purposes of the present chapter, the terms used in the present agreement and/or in the agreement/covenant processed in its scope/on its basis, unless otherwise deriving from the context or determined by the respective agreements/covenants, shall have the following meanings:
Certificate of Deposit (CD). A time deposit with a specific maturity evidenced by a certificate. Large denomination CDs may be marketable. CERTIFICATE OF DEPOSIT ACCOUNT REGISTRY SYSTEM (CDARS). A private placement service that allows local agencies to purchase more than $250,000 in CDs from a single financial institution (must be a participating institution of CDARS) while still maintaining FDIC insurance coverage. CDARS is currently the only entity providing this service. CDARS facilitates the trading of deposits between the California institution and other participating institutions in amounts that are less than $250,000 each, so that FDIC coverage is maintained.
Certificate of Deposit (CD)
