With Scotiabank Term Deposits you enjoy: Security – With Term Deposits, your initial investment (principal) is protected. Predictable Returns – Term Deposits give you peace of mind with a guaranteed rate of interest for the term of your investment. Flexibility – Whether fixed or cashable, short or long term, Term Deposits give you the. 1 Redeemable prior to maturity with no interest paid. 2 You can opt into our automatic renewal option when purchasing your term deposit. If you don't notify us before maturity, we will automatically re-invest your deposit (either the principal only or principal and any interest earned) at the interest rate applicable on the date of renewal, to help maximize the growth of your savings.
Term Deposit Facility
Term deposits facilitate the implementation of monetary policy by providing an additional tool by which the Federal Reserve can manage the aggregate quantity of reserve balances held by depository institutions. Funds placed in term deposits are removed from the reserve accounts of participating institutions for the life of the term deposit and thereby drain reserve balances from the banking system. Reserve Banks offer term deposits through the Term Deposit Facility (TDF), and all institutions that are eligible to receive earnings on their balances at Reserve Banks may participate in the term deposit program. In the Policy Normalization Principles and Plans adopted by the Federal Open Market Committee (FOMC) on September 17, 2014, the FOMC indicated that during the process of monetary policy normalization, the Federal Reserve intends to use other supplementary tools, such as the TDF, as needed to help control the federal funds rate and move it into the target range set by the FOMC.
| Current Operations | ||
|---|---|---|
| May 30 | Announcement | Result |
| August 22 | Announcement | Result |
Related Press Releases
- Federal Reserve announces TDF test operation (February 12, 2016)
- Federal Reserve announces TDF test operation (November 19, 2015)
- Federal Reserve announces plans to continue periodic testing of its Term Deposit Facility operations in August (August 3, 2015)
- Federal Reserve announces plans for periodic testing of its Term Deposit Facility (May 14, 2015)
- Federal Reserve announces series of expanded TDF test operations with early withdrawal feature (February 2, 2015)
- Federal Reserve announces series of expanded TDF test operations with early withdrawal feature (September 4, 2014)
- Federal Reserve announces series of expanded TDF test operations (May 9, 2014)
- Federal Reserve plans to conduct a series of seven-day term deposit operations in March under the Term Deposit Facility (TDF) (February 21, 2014)
- Federal Reserve announces small-value fixed-rate term deposit operations (April 26, 2013)
- Federal Reserve Board approves amendments to Regulation D authorizing Reserve Banks to offer term deposits (April 30, 2010)
- Board authorizes ongoing small-value offerings of term deposits under the Term Deposit Facility (September 8, 2010)
- Federal Reserve announces schedule for small-value auctions of term deposits through the Term Deposit Facility (May 28, 2010)
- Board authorizes small-value offerings of term deposits under the Term Deposit Facility (May 10, 2010)
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Term Deposits Compare
Term Deposit
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