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§ 344.4 What are Time Deposit securities?
Time Deposit securities are issued as certificates of indebtedness, notes, or bonds.
(a) What are the maturity periods? The issuer must fix the maturity periods for Time Deposit securities, which are issued as follows:
(1) Certificates of indebtedness that do not bear interest. For certificates of indebtedness that do not bear interest, the issuer can fix a maturity period of not less than fifteen days and not more than one year.
(2) Certificates of indebtedness that bear interest. For certificates of indebtedness that bear interest, the issuer can fix a maturity period of not less than thirty days and not more than one year.