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Certificate of Deposit from other Banks-Collateral

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A customer wants to pledge Certificates of Deposits from other banks as collateral for a loan at our bank. Where do I find forms and what are disclosures? $100,000 10years monthly payments set up like a mortgage payment.

You would need a rock solid assignment from the other banks and most likely need to file a UCC under Article 9. Most banks will not grant this sort of assignment. You need legal counsel assistance to even to begin to pull this transaction off.

First published on 8/6/12

First published on 08/06/2012

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