medium-term deposit

Debt Mitsubishi Bank Ltd.'s New York branch has established a $2 billion medium-term deposit note program.

Nicholas Boys Smith, managing director of Lloyds TSB International Wealth, said: "Demand for short- and medium-term deposits has increased markedly over the past three months.

These include bills of exchange eligible for rediscount at the Bank of England, short-term loans to local authorities, short- and medium-term deposits in the National Savings Bank and certificates of tax deposit.

The medium-term deposit notes will be offered from time to time by the Philadelphia National Bank, the Hamilton Bank and the New Jersey National Bank, with maturities ranging from 18 months to 15 years.