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In Response To:
Thread Starter: Anonymous
Title: Re: Cash Collateral

Customer wants to use cash (actual cash) for a line of credit. Officer said cash will be kept in collateral vault like other collateral. Customer doesn't want to use a CD b/c "he has already paid taxes on it" and doesn't want it "reported". My question is, would a CTR be necessary? There would be no actual "cash transaction". I already know he is avoiding a CTR and what needs to be done on that front, but the need for a CTR is what is in question.