Categories: Treasury

NEGOTIABLE CERTIFICATE OF DEPOSIT

A negotiable (transferable) instrument or deposit in book entry form evidenced by a receipt or similar acknowledgement issued by a bank, which provides on its face that the amount of such deposit is payable to bearer or any specified person (e.g., deposit notes, bank notes). Negotiable certificates of deposit are not considered securities on the TIC reports. All foreign-held U.S. negotiable certificates of deposit (regardless of maturity) whether issued by the reporter or by another depository institution should be reported on the BL-2 (if dollar-denominated) or BQ-2 (if foreign currency-denominated). U.S. held foreign negotiable certificates of deposits should be reported on the BC or BQ-1 (if dollar-denominated), or the BQ-2 (if foreign currency-denominated).

SEC

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