From the Collaborative Bond and Money Market Data Portal
Definition: A short-term, marketable deposit instrument issued and payable primarily in London, typically in minimum denominations of GBP 100,000 with standard terms and conditions issued by banks regulated and operating in the United Kingdom. By convention, it carries a maturity of up to five years, though the majority are issued for less than six months. Sterling CDs may bear fixed or variable interest, or be issued at a discount without a coupon; interest-bearing issues are generally sold at par for large amounts. The interest rate closely follows the prevailing sterling interbank rate for equivalent maturities. These certificates are freely negotiable in the secondary market but are not eligible as collateral in the Bank of England’s open market operations.
Data Model: In the CMDportal Collaborative Bond and Money Market Data Model Sterling Certificate of Deposits appear in the field Security Type with the attribute Certificate of Deposit either in combination with the field Currency and the attribute GBP or the field ISIN and the attribute GB as the first two letters of the ISIN or a combination thereof.
Analysis: ISINs that start with GB are securities whose ISIN country code is the United Kingdom (Great Britain), i.e. instruments for which the UK is the relevant ISO 6166 country prefix. The National Numbering Agency responsible for assigning and maintaining GB-prefixed ISINs is London Stock Exchange plc, which acts as the sole issuer of ISINs with the GB country code (as well as JE, GG and IM) under ISO 6166, For a more general definition of Certificate of Deposit please click on the link.
