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#823634 - 09/26/07 03:42 PM Brokered CD
Tessie Offline
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Joined: Jan 2006
Posts: 155

A brokerage Company buys a CD from us for a Bank, do we need CIP information on both?

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#823656 - 09/26/07 03:55 PM Re: Brokered CD Tessie
mexvark Offline
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mexvark
Joined: Dec 2003
Posts: 47
neither

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#823668 - 09/26/07 04:02 PM Re: Brokered CD mexvark
waldensouth Offline
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waldensouth
Joined: Nov 2001
Posts: 7,983
FINALLY ABOVE the gnat line
The bank purchasing said CD from the broker may need certification of your CIP progam.
_________________________
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#824267 - 09/26/07 11:57 PM Re: Brokered CD Tessie
Jokerman Offline
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Joined: Nov 2003
Posts: 12,846
Originally Posted By: tasha
A brokerage Company buys a CD from us for a Bank, do we need CIP information on both?


I assume that you are the bank of deposit, and that the counterparty purchased the CD as an investment?

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#824438 - 09/27/07 01:55 PM Re: Brokered CD Jokerman
Tessie Offline
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Joined: Jan 2006
Posts: 155
We are the bank of deposit

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