of Deposit Index
Of Deposit Index (CODI) is a twelve month moving average of the
three month certificates of deposit index, as published by the
Federal Reserve Board. Lenders calculate the average by adding
the 12 recently published monthly yields together and dividing the
result by 12, the result is then rounded to the nearest 1,000th of
one percentage point.
loans don't rise or fall as rapidly as market interest rates like
the prime rate or discount rate. This is due to the 12 month
moving average which is offset by some higher and some lower CD
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