Zions Direct Announces FDIC-Insured CD Auction Results through August 28, 2012
SALT LAKE CITY, Aug. 30, 2012 /PRNewswire/ — Zions Direct, the online broker-dealer that allows its customers to purchase FDIC – insured Certificates of Deposit in its daily web-based auctions, announces its weekly auction results. Since 2006, Zions Direct has auctioned over $1.9 billion in more than 6,000 fixed-income auctions.
In auctions closed from August 22, 2012 to August 28, 2012, investors purchasing FDIC-insured CDs in the auctions received average yields 1.03 percentage points, or 103 basis points, higher than average yields on similar CDs as reported in Informa Research Services Top 50 National APYs, August 28, 2012.
FDIC-Insured Certificate of Deposit Data (See Disclaimer for data source information)
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Total Average Difference (basis points): 103
THE INFORMATION INCLUDED IS NOT INTENDED TO SERVE AS THE BASIS FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RESULTS.
Zions Direct regularly publishes data from CDs auctioned at Zions Direct Auctions compared against similar securities offered in the marketplace in their Market Snapshot. For more information about Zions Direct and to sign up to receive the free weekly e-newsletter, visit zionsdirect.com. This and past Market Snapshots can be found at think.zionsdirect.com.
Market Snapshot Information Disclaimer
Zions Direct Auction CD yields are from auctions ending August 22, 2012 to August 28, 2012. A weighted average is calculated when multiple CDs of similar terms are sold through platform. FDIC-insured CDs with terms of 1 month are noted as 1 month; 2 months are noted as 2 months; 3 – 4 months are noted as 3 months; 5 – 7 months as 6 months; 8 – 10 months as 9 months; 11 – 17 months as 1 year; 18 – 29 months as 2 year; 48 – 71 months as 5 years.
Top 50 National APYs – Top 50 U.S. bank and thrift holding companies by deposits. CD Rates Average APYs are based on certificate of deposit accounts for $25,000. Copyright 2012 Informa Research Services, Inc as a part of their Interest Rate Review – Retail. Report dated August 28, 2012.
Investment Products: Not FDIC Insured — No Bank Guarantee — May Lose Value
Zions Direct is a wholly owned non-bank subsidiary of Zions Bank.
SOURCE Zions Direct