NBAD launches 1 billion euro French CD programme | GulfNews.com:
"National Bank of Abu Dhabi (NBAD), the emirate’s biggest lender said on Tuesday it has launched a €1 billion French Certificate of Deposit (CD) programme which offers greater diversification to institutional investors and corporate treasuries.
“The maximum amount to purchase under this program is 1 billion euro. The interest rate depends on maturity period (from 1 day to 1 year), and the currency it is issued under. The rate would be aligned with other short-term papers issued by NBAD, such as Euro-CP or London CD,” NBAD said in a statement.
It added: “The multi-currency CD is issued under the STEP (Short Term European Papers) label, giving the program eligibility as collateral for European Central Bank operations. The CD, which is offered in euro, British pounds, US dollars and Swiss francs, is a short-term program with a maturity of up to 365 days.”"
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