What is a nonpersonal time deposit?

In Banking - Cds - Asked by Admin - 8 months ago

Examples of nonpersonal time deposits include money market deposit accounts, certificates of deposit and investment accounts. Nonpersonal time deposits are not subject to reserve requirements under the Federal Reserve's Regulation D. Federally insured banks are required to report their nonpersonal time deposit account balances to their regional Federal Reserve bank on a regular basis.

Answered by Admin - 8 months ago

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If you have cash sitting in the bank and are scared to invest it into something or have a reason not to invest a CD might be a good option. CDs are a way to make a higher percentage from the bank each year. CDs come in different time periods and rates. If you have questions about CDs or need the answer to questions like "what is a nonpersonal time deposit?" Zuuply.com can answer them or you can browse our archives.

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What is a nonpersonal time deposit?

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