The brokered CD market has increasingly become an integral part of funding and overall balance sheet management for many institutions. Often, this funding source represents a lower cost funding option than local market funding. Clients can search for the funding they need, in the maturities they desire.
Here are some of the salient features:
- FDIC insured (per current deposit insurance rules)
- Callable by the issuer, if desired
- Cost effective wholesale funding source
- Implement long or short term funding strategies without the impact of local market pricing
- Issued via nationwide distribution network