jumbo certificate of deposit investment & finance definition
A certificate of deposit
with a minimum denomination of $100,000. Jumbo CDs are usually bought and sold
by large institutions such as banks, pension funds, money market funds, and
insurance companies.
See jumbo certificate of deposit in Wall Street Words
A certificate of deposit with a denomination of $95,000 or more. Jumbo certificates of deposit are negotiable and ordinarily carry slightly higher interest rates than smaller certificates.
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