PNC Bank NA is planning on-line auctions of $5,000, 12-month certificates of deposit Sept. 23-27 and Sept. 30 to Oct. 4. Fifty CDs will be available in each auction. The maximum opening bid will be 10% annual percentage yield. This compares favorably to the current one-year national average of 5.28% for one-year CDs, according to Bank Rate Monitor. The actual yield on the 50 CDs will be established by participants on the on-line bidding floor.

"By piloting this auction, PNC Bank is offering participants an opportunity to obtain an annual percentage yield that may be higher than one they could obtain through more traditional means," said Martin Evancoe, senior vice president of electronic commerce for PNC's Regional Community Bank.

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