Business and Personal Finance Dictionary

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• BROKERAGE CERTIFICATE OF DEPOSIT (CD)
  
  A large-denomination CD sold by a bank to a brokerage, which then divides it into smaller pieces for sale to its customers. Brokerage CDs generally pay higher interest than CDs issued directly by banks. CD's are FDIC-insured up to $100,000 and are more liquid than bank-issued CDs.
  
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