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The Baker Group is pleased to announce that we now offer a funding vehicle for clients through a partnership with Financial Northeastern Securities. DTC Eligible Certificates of Deposit are an efficient way to raise large amounts of deposits through issuance involving a single certificate. These CDs are part of a national book-entry market in which rates are set and transactions are settled weekly. They are issued in book entry form only and held by the Depository Trust Clearing Corporation (DTCC). One master certificate represents each issue (CUSIP). Benefits of this funding source include the following:

  • Cost effective versus local markets or other wholesale funding alternatives.
  • Excellent resource for Contingency Funding Plans.
  • Can match funds according to your asset/liability needs.
  • A single certificate per maturity.
  • No collateral is required.
  • Flexible maturities: 1 month to 30 years.
  • Structures include fixed rate, non-callable and callable, equity linked, and variable rate.
  • No early withdrawal feature (except extraordinary circumstances).

Financial Northeastern Securities
Bank Funding Division

About FNC

  • Financial Northeastern Companies (FNC) is one of the leading underwriters of Brokered Certificates of Deposit (CDs) with over 31 years of experience, specializing in underwriting, sales, marketing, and distribution of federally insured CDs.
  • FNC has continually ranked amongst the top underwriters in DTC CD issuance.
  • FNC has originated billions of dollars in DTC eligible CDs over the last 10 years.
  • FNC has established relationships with approximately 2,000 banking institutions across the country. These institutions consistently rely on FNC for competitive pricing, CD structuring, duration analysis and trade execution.
  • FNC’s Bank Funding Desk professionals have an average of 19 years experience advising banks on their funding/liquidity needs. They work diligently to keep clients abreast of current market conditions and regulatory developments.

DTC Eligible Certificates of Deposit

DTC eligible CDs provide an operational and cost-effective way to raise large amounts of deposits through issuance involving a single certificate. DTC eligible CDs are part of a national book-entry market in which rates are set and transactions are settled weekly.

  • Delivery: Issued in book entry form only and held by the Depository Trust Clearing Corporation (DTCC). One master certificate represents each issue (CUSIP).
  • Distribution: CDs are placed with investors through our internal sales force and our selling group representing hundreds of broker dealers nationwide.
  • FDIC Insurance: Deposits are eligible for deposit insurance coverage as dictated by §337.6 of Title 1 2 CFR.

Typical Issuance Period

  • Between 7 and 10 days including pricing, execution of documents, sales, and settlement.
  • We work with the issuer throughout the entire process to ensure ease of transaction.

Services Provided Exclusively by The Baker Group

  • Interest Payment Schedule.
         - Information on setting up ACH account with DTC.
  • Maturity Notice and Current Roll Rates.
  • A/L & IRR Monitoring through our IRRM and DLM.
  • Assistance with A/L Policy and Contingency Funding Planning.
  • Support for Timely Settlement.
  • Guidance with Call Reporting and Auditor/Examiner Compliance.