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Zions Direct Announces FDIC-Insured CD Auction Results through April 17, 2012
Apr 19, 2012 (03:04 PM EDT)
Results for Auctions of FDIC-insured Certificates of Deposit through April 17, 2012
SALT LAKE CITY, April 19, 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. In auctions closed from April 11, 2012 to April 17, 2012, investors purchasing FDIC-insured CDs in the auctions received average yields 0.50 percentage points, or 50 basis points, higher than average yields on similar CDs as reported in Informa Research Services Top 50 National APYs, April 17, 2012.
Zions Direct regularly publishes data from CDs auctioned at Zions Direct Auctions compared against similar securities offered in the marketplace in their Market Snapshot. Since February 2007, Zions Direct has auctioned over 1.1 billion dollars in more than 5,000 fixed-income auctions.
ZIONS DIRECT AUCTIONS MARKET SNAPSHOT
FDIC-Insured Certificate of Deposit Data*
Total Average Difference (basis points): 50
THE INFORMATION INCLUDED IS NOT INTENDED TO SERVE AS THE BASIS FOR INVESTMENT DECISIONS. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE RESULTS.
*See Additional Disclaimer for data source information.
About Zions Direct
Investment products and services offered through Zions Direct, member of FINRA/SIPC, a non-bank subsidiary of Zions Bank are NOT insured by the FDIC or any federal or state governmental agency, are NOT deposits or other obligations of, or guaranteed by, Zions Bancorporation or its affiliates, and MAY be subject to investment risks, including the possible loss of principal value or amount invested. FDIC-insured CDs are insured up to $250,000 per individual account holder per bank.
Zions Direct Auction CD yields are from auctions ending April 11, 2012 to April 17, 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 April 17, 2012.
SOURCE Zions Direct