Certificates of Deposit Index
(CODI Rate)

* Special Note: UPDATE The Federal Reserve has discontinued publishing the underlying data for the CODI. Since July 1, 2013 the Federal Reserve has not provided data to calculate the CODI. The Federal Reserve says it doesn’t publish the data “when the number of respondents is too few to be representative.” So apparently they are not getting enough information from banks and dealers. We will continue to follow the situation and makes updates when available. See: http://www.moneycafe.com/personal-finance/2013/09/where-is-codi/

This index is the 12 month average of the monthly average yields of 3 month certificates of deposit.  In plain English, this index is calculated by averaging the previous 12 rates of the 3 month CD rate.  The 3 month CD rate used is the rate publish monthly by the Federal Reserve.  Because this particular index is an annual average, it is more steady than straight CD rates. In more detail, the Federal Reserve averages dealer bid rates for certificates of deposit (CDs) that are actively traded in the secondary market and are issued by top-tier banks. Bids are generally for CDs issued in denominations of $1,000,000 or greater.

Historical Graph of the Certificates of Deposit Index (CODI)

Certificates of Deposit Index – CODI

 

Historical Chart of the Certificates of Deposit Index (CODI) © 2014 MoneyCafe.com
Source: Derivation of Rates Reported by Federal Reserve Board

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