CDARS

AcronymDefinition
CDARSCertificate of Deposit Account Registry Service (Promontory Interfinancial Network, LLC.)
CDARSCentre de Distribution Alimentaire de la Rive Sud
CDARSClient Data Analysis and Retrieval System
CDARSCommissariat au Développement de l’Agronomie Saharienne
CDARSClinical Development Analysis and Reporting System
References in periodicals archive ?
The breakthrough of CDARS is its sophisticated matching engine, which allows banks to work together to provide federal deposit insurance to customers with large accounts," says Mark Jacobsen, president and chief operating officer of Promontory.
After only one week of offering CDARS, Community Bank is among the leaders in our national network,'' said Mark Jacobsen, president and chief operating officer of Promontory Interfinancial Network LLC, which operates the program.
When a bank initiates a CDARS transaction, the bank can choose its own interest rate.
CDARS is a program that divides big deposits into amounts less than $100,000 and spreads the money across a network of FDIC-insured banks.
He said that some of the new deposits that Metropolitan National has been attracting because of its CDARS program have been far in excess of seven figures.
The Bank currently has $126 million in brokered deposits including CDARS reciprocal which will mature in 2010 of which $66 million mature in the next 90 days.
The Bank currently has $170 million in brokered deposits including CDARS reciprocal which will mature in the next twelve months of which $44 million mature in the next 90 days.
MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS - a solution that provides FDIC insurance on deposits up to $50 million.
MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS -- a solution that provides multi-million-dollar FDIC insurance.
Treasury investors can search for these banks and place $250,000 per tax ID, or they can use products like CDARS (Certificate of Deposit Account Registry Service) or FICA (Federally Insured Cash Account) that break up large deposits and distribute them to banks in pieces small enough to keep full FDIC insurance, says Lansky, who sells the FICA product.
Talk to your banker about which account is best for your business, including options like Certificate of Deposit Account Registry Service or CDARS accounts, which can hold up to $50 million invested in CDs at one bank and are covered by FDIC insurance.