Skip to content

Municipals Pledged to Sweep Accounts

Answered by: 

Question: 
Can municipals be pledged to our sweep accounts? If not, what regulation prohibits that? I can’t seem to find a definite answer on what is allowed to be pledged towards these accounts.
Answer: 

Any authority your bank may have to pledge securities as collateral for uninsured deposits is a function of state law. Generally, it is only allowed when the deposit is public funds.

First published on BankersOnline.com 11/16/09

First published on 11/16/2009

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics