Negotiable Certificate of Deposit (NCD) is a central bank bills issued by the National Bank of Cambodia that act as a monetary instrument to absorb liquidity from the banking system and is a financial instrument that is regarded as low-risk collateral. NCD is traded in secondary markets and are highly liquidity. They can be used as collateral for transactions, such as interbank lending or operations with the National Bank of Cambodia, including Liquidity Providing Collateralized Operation (LPCO), Marginal Lending Facility (MLF), and overdraft.

The bills are issued in both KHR and USD and are dematerialized and registered in the NBC Platform (NBCP), an electronic system used for custody and trading of the NCD, and for other interbank transactions operated by the NBC.

The NBC determines the amount and maximum interest rate for the NCD's weekly auction. Financial institutions that are members of the National Bank of Cambodia Platform (NBCP) can participate through the NBCP auction by providing information on the bidding amount and the interest rate.

Auction is conducted in the form of competitive bid, where the interest rates bid by investors are sorted from low to high to determine the winners. The number of winners depends on the total allotment in each auction and the remaining amount after the successful bidders are awarded. In addition, the interest rate will be determined by the single price auction, which the highest bidder rate among the winning bidders. The winning bidder will be notified through the NBCP and must prepare collaterals for the predetermined settlement time.

The NBC may decide to buy back NCD based on the holder's request at a discount rate when securities holders are in need of liquidity and have difficulty finding buyers in the market. The price of the NCD depends on the holding period and discount rate that is applied by the NBC.

o Submit a request form for NBC Platform (NBCP) membership.

o Sign Agreement on Securities Transactions with National Bank of Cambodia.