We have a Bank currently using the CDARs program to invest funds that exceed FDIC coverage. They are wanting to discontinue using this program and are looking to use FHLB letters of credit to collateralize the public deposits that exceed FDIC coverage. They would be working with a local Illinois municipality. So the process as I understand it would be that the municipality would open an account with the Bank and then would apply for the letter of credit with FHLB. Has anyone done anything like this? Is it that simple a process?