Web hosting Glossary

Definitions of negotiable certificate of deposit:

• An NCD is a fixed deposit receipt which is negotiable in the secondary market, which means that the holder thereof can sell it to a third party. Interest on NCDs is usually paid six-monthly in arrears if the term exceeds one year, and on maturity if the term is less than one year. The price of NCDs fluctuates, depending on the prevailing interest rate.
  www.eagletraders.com/books/afm/afm_glossary.htm
• A large-denomination (generally $1 million) CD that can be sold but cannot be cashed in before maturity.
  www.fiscalagents.com/newsletter/gloss/Glossary/n.shtml

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