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What is your Institution?

Updated: 9/24/2023
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What is an acquiring financial institution?

An acquiring financial institution is an institution whichcontracts with the bank and the merchant to enable credit cardtransactions.


What is the meaning of 'BCCR' as an institution supervising banks?

Usually BCCR is not an institution in and of itself but rather a division within an institution. It is a Banking Center Control Review.


What is Mt 202?

The MT202 is a payment message. This message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the financial institution of the beneficiary institution. It is used to order the movement of funds to the beneficiary institution. This message may also be sent to a financial institution servicing multiple accounts for the Sender to transfer funds between these accounts. In addition it can be sent to a financial institution to debit an account of the Sender serviced by the Receiver and to credit an account, owned by the Sender at an institution specified in field 57a.


What is bang king institutions?

There is no such thing as a "bang king" institution. I believe you mean "banking institution.


How do you assign a CDARS account as collateral for a loan?

If you intend to borrow from the custodian (the institution through which you placed your order for the CDs), you and the institution enter into a security agreement that establishes the institution's security interest in the CDs. No separate control agreement is necessary, since the institution's security interest in the CDs is perfected by the institution's control of the CDs as your custodian. If you fail to repay the loan, the institution will be able to recover the amount of the loan when the CDs mature, since the payment of principal and accrued interest must come through the custodian institution.