GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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15:56 Jul 4, 2003 |
French to English translations [PRO] Bus/Financial - Finance (general) / banking | |||||||
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| Selected response from: Bourth (X) Local time: 14:14 | ||||||
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Summary of answers provided | ||||
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3 +3 | cash collateral account (?) |
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cash collateral account (?) Explanation: Would that fit? <<CASH COLLATERAL ACCOUNT - An account in the name of a borrower that serves as a clearing account with its bank, usually for the purpose of securing and servicing an indebtedness. With a cash collateral account, money is deposited in a lockbox account; when the funds are collected and the deposits have cleared, the debt served by the account is reduced. A cash collateral account cannot be drawn upon like a checking account and essentially is considered a zero balance account. >> |
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