SKIP TO SITE NAVIGATION | SWITCH TO GRAPHICAL VERSION

Eurodollar Time Deposits

Time Deposits* with Wachovia's Cayman Islands Branch are unconditional obligations of Wachovia Bank, National Association ("Wachovia"), which are repaid at maturity. They are payable solely at the Cayman Islands Branch and are subject to the laws and regulations of the Cayman Islands, including any restrictions on withdrawals that may be imposed by the country. Payment of deposits is not guaranteed by any domestic office of Wachovia if the Cayman Islands Branch is precluded from making payment due to restrictions imposed by the Cayman Islands government. Time deposits in all major currencies are also accepted at the Cayman Islands Branch. The provisions also apply to maturities, denominations, security, tax status, marketability, and fees. The rates paid will be the appropriate Eurocurrency rate for the specific currency deposit.

Terms and Structures

Maturity
Eurodollar time deposits normally have maturities from overnight to six months, but may be as long as five years
Issued
Quoted on a yield basis
Rate Structure
Yields vary according to money market conditions, maturities, and size of deposits
Interest
Paid at maturity
Denominations
Minimum investment of $100,000
Security
Eurodollar time deposits carry no FDIC coverage
Tax Status
Income from time deposits is treated as ordinary income (for specifics on intangibles tax, consult your tax advisor)
Marketability
Eurodollars time deposits are not marketable

Email this article

* Products and services are offered by Wachovia Bank, National Association.

Wachovia Securities is the trade name for the corporate and investment banking services of Wachovia Corporation and its subsidiaries, including Wachovia Capital Markets, LLC ("WCM"), member FINRA/SIPC.

Debt and equity underwriting, trading, research and sales, loan syndications agent services, and corporate finance and M&A advisory services are offered by WCM.

Mezzanine capital, private equity, municipal securities trading and sales, cash management, credit, international, leasing and risk management products and services are offered by various non-broker dealer subsidiaries of Wachovia Corporation.

Access Accounts
Corporate & Institutional Login

Contact Us
Money Market Sales
Tommy Lawson
(800) 347-2240
8:00am - 5:30pm ET
Monday - Friday

Related Products and Services
•Online Money Market Trading

Corporate & Institutional Customer Service

Corporate & Institutional Contacts

Corporate & Institutional FAQs
Site Map
Glossary
Search

Eurodollar Time Deposits

Terms and Structures

Navigation

Corporate & Institutional Section Navigation

Main Sections of the Site

Search