A certificate of deposit issued by a foreign bank in the United States. As they usually have a minimum face value of $100,000, Yankee certificates of deposit are generally used by institutional and other large investors looking to invest funds in instruments with a relatively high degree of safety, although they are unsecured. 



|||Yankee certificates of deposit can most often be found in New York financial markets. They are generally negotiable, which enables them to trade in a secondary market. Typically, they have a maturity of less than a year.