BIC. A contract issued by a bank to an investor, often a large corporate investor, which guarantees a specific yield on an investment over a specific period of time. The contract usually has a maturity of one to ten years. For example, a company with a 401(K) plan can enter into a Bank Investment Contract which will guarantee a certain return over the life of the contract. Because the account is held with a qualified financial institution, deposits in each 401(K) account are insured by the FDIC as well.
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contract issued by a bank to a corporate investor, usually a company-sponsored profit sharing plan or 401(k) plan, guaranteeing a fixed rate of return on invested ...
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Dec 3, 2009 ... Since the term "bank investment contract" is not a term of art, however, that ... Assuming that a transaction, be it bank investment contract or ...