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eConnectDirect (Physical) CDs
Are They Right For You as an Issuing Institution?
eConnectDirect CDs are direct deposit placements to the issuing bank or credit union. Also known as network CDs, listing service deposits, Internet CDs or physical CDs, this deposit resource allows financial institutions the opportunity to offer CD rates to a network of subscribers to attract deposits. All eConnectDirect CDs follow the regulatory guidance of a listing service deposit and are not classified as a brokered CD.
Benefits to Issuers
- No monthly or annual subscription fees
- On-demand liquidity
- Unique and diversified liquidity resources (including non-secured public funds)
- No minimum issuance size
- Compliant with FDIC guidelines to qualify for a non-brokered, listing service deposit
- No minimum capital requirements
- No brokered CD rate negotiations (your rate/your term)
- Simple, fast and easy means to communicate CD rates to the institutional market(s)
Who Can Participate?
FDIC- and NCUA-insured financial institutions can offer CD rates on eConnectDirect
Why/When to Issue
- When your liquidity/deposit needs dictate
- Interested in deposits settling same/next day
- To match fund loans
- To capture term liabilities not available in local markets
- To avoid cannibalization of local market depositors
- To "test" lines of credit (CFP)
- Capital status prohibits other deposit sources
Why Multi-Bank Securities, Inc.?
MBS has funded more than 3,000 deposits for financial institutions and delivers a unique, consistent and diversified source of liquidity. Our funding team has more than 125 collective years of experience and is available to offer guidance and strategies to fund your specific CD efforts.
As a value-added service to our clients, Multi-Bank Securities, Inc. offers free safekeeping through Pershing LLC (Pershing), a BNY Mellon company.
Click here to learn more about Pershing Safekeeping.