CMMA Set up
What does CMMA stands for?
Collateral Money Market Account
Whats the FCT for CMMA assistance?
US-CMMA- Maintenance/Assistance
What is a Letter of Credit?
•LCs guarantee transactions and agreements.
Where do you generate new account number for a CMMA?
CBS
Whats the name of the form needed for CMMA Maintenance?
Collateral MMA Closure / Maintenance Form
We set up letters of credit.
True or False
False
•Set up is supported by Trade Finance (Trade Finance - Inquiries Te3a6e@svb.com).
Deposit Products/Services
New
CMMA - New
Whats the RMS flow for Credit card Increases?
•Deposit Products/Services
•Modify
•CMMA - Modify
Why a would a Client want to use a letter of credit?
•Preserve cash on their balance sheet as they scale and expand globally by reducing need for deposits, pre-payments and escrow accounts.
Name both of the cash pledge agreements we have?
•Cash Pledge Agreement WITH Certificate of Authority Form
•Cash Pledge Agreement WITHOUT Certificate of Authority Form
For what request do we use the maintenace form?
Increases
Decreases
Closures
Name 4 Products or services needing a CMMA
Credit Card Facilities
Letters of Credit
ACH Origination
FX Services
What next steps are needed once we receive email of completion of opportunity and acceptance of decrease or increase of credit card limit?
We will submit through CRM to create an RMS ticket for Card ops and Global Fulfillment to implement the changes.
What are examples of Letter of Credits?
Mention Two
•Secure contract to assure new vendors via a bank guarantee backing a company’s obligations
•Provide foreign bank guarantee with LC to back a bid & performance bond, acquisition, VAT, etc.
•Reduce import/export risk with LC to ensure receipt or payment of goods
•Serve as collateral to obtain a loan or other credit
•Secure lease for new office, lab or warehouse space with LC to guarantee payment long term
•Assure payment for real estate transactions or acquisitions in lieu of escrow