Deposits taken term

Deposits taken term
  Funds taken by the bank from customers and placed in deposit accounts for a fixed term. These funds are available to be repaid to the customer only at the end of the fixed, pre-determined period of time. Often called CD (certificate of deposit) or TD (time deposit). These funds can often be automatically rolled over into new CDs upon completion of the current term.

International financial encyclopaedia . 2014.

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