Zions Direct Announces FDIC-Insured CD Auction Results through October 23,
Auction customers received average yields 83 basis points higher than market
SALT LAKE CITY, Oct. 25, 2012
SALT LAKE CITY, Oct. 25, 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 $2 billion in
more than 7,000 fixed-income auctions.
In auctions closed from October 17, 2012 to October 23, 2012, investors
purchasing FDIC-insured CDs in the auctions received average yields 0.83
percentage points, or 83 basis points, higher than average yields on similar
CDs as reported in Informa Research Services Top 50 National APYs, October 23,
FDIC-Insured Certificate of Deposit Data (See Disclaimer for data source
1 Mo 2 Mo 3 Mo 6 Mo 9 Mo 1 Yr
Zions Direct Auction CDs 0.99% 0.97% 0.92% 0.97% 1.11% 1.18%
Informa Top 50 National APYs 0.12% 0.19% 0.26%
Zions Direct / National APY 0.80% 0.78% 0.92%
Total Average Difference (basis points): 83
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 October 17, 2012 to
October 23, 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 October 23, 2012.
Investment products and services offered through Zions Direct, member of
FDIC-insured CDs are insured up to $250,000 per individual account holder per
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
Contact: Russell Fisher, Vice President, +1-801-844-7826, or Alison Andersen,
Communications Officer, +1-801-844-7710
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