Money Market Deposits - UBA Uganda

Money Market Deposits

Cash transactions made with deposit money banks either secure or non secure

Product Description

– Cash transactions made with deposit money banks either secure or non secure
– Overnight Deposits
– Call Deposits (ordinary call or 7 day call)
– Certificate of Deposits
– Fixed/Time/Tenured Deposits (Usually 30,60,90,180 days, occasionally 1 year)

Product Features

– Transaction depends on limit for counter parties
– Can be secured or unsecured
– Can be Open Buy Back or Fixed Buy Back
– Simultaneous transfer of funds and securities by both counterparties
– Face value of underlying security same as nominal value of loan amount

Your Benefits

– Opportunity to earn increased yield on short term investment
– Creates liquidity to meet short term obligations
– Safer as an investment when secured since investor receives collateral

The Requirements

Existing Clients

– Letter expressing desire to invest in MMD and authority to debit account thereafter
– Filled KYC form
– Duly signed investment contract confirmation letter showing issuers name.
– New Clients
– Account opening form with passport attached and means of identification
– Cheque or lodgment slip
– Filled KYC form
– Duly signed investment contract confirmation letter showing issuers name

Application process

– You initiate request and comply with requirements above
– Account officer verifies documents and forwards to treasury
– Treasury raises deal slip and forwards to Trops
– Customers account is debited in line with deal slip instructions
– Contract certificates are generated

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