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What are Negotiable Instruments of Deposit?

In: Investing and Financial Markets [Edit categories]

Answer:

It is a negotiable bearer receipt issued by an approved Commercial or Investment Bank as evidence of a deposit placed with it for a fixed tenor at a specified fixed rate if interest.

First answer by Pauline wong. Last edit by Pauline wong. Contributor trust: 5 [recommend contributor ]. Question popularity: 4 [recommend question].

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Relevant answers:

Describe two special features of Negotiable Instruments of Deposit?
1 ) Negotiable Instruments of Deposit (NID) are tradeable in the secondary market and can be sold to raise cash in time of short liquidity. 2 ) Holdings of Negotiable Instruments of Deposit (NID)...
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