2. In Australasia, which of the following is NOT correct in relation to a certificate of deposit (CD)?

Select one:

a. The terms of CDs typically range up to 360 days

b. A bank may sell a CD directly into the money markets to get short-term funding

c. Generally, in the Australasian money markets there is a deep and liquid secondary market in CDs

d. A CD is a certificate issued by a bank undertaking to pay the bearer its face value at maturity

e. CDs are short-term discount financial instruments issued by a bank