E
Equity-Linked Certificate of Deposit (EL...
E
Equity-Linked Certificate of Deposit (ELCD or ECD)
A variation on the equity-linked note with a bank as the
issuer
. In the United States these instruments usually carry FDIC deposit
insurance
and the issuer may impose a penalty for early withdrawal. Ordinarily, an ELCD does not trade in a
secondary market
. See
Equity-Linked Note (ELN)
(diagrams). See also
Market-Linked CD
,
Market Index Deposits (MIDs)
.
Glossary
*
E