YANKEE CD Definition

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YANKEE CD is a Certificate of Deposit issued in the United States through the branch of a foreign bank, but denomi­nated in U.S. dollars.

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CASHIERS CHECK; also known as a bank check, official check, tellers check, bank draft or treasurers check; is a check guaranteed by a bank. They are normally treated as cash because most banks clear them instantly.

CLOSELY HELD is a description of a corporation whose voting stock is owned by a very small number of shareholders.

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