i. |
Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days of receipt, or such other number of days specified in the transaction agreements. |
ii. |
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. |
iii. |
Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. |
iv. |
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of over-collateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. |
v. |
Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 240.13k-1(b)(1) of this chapter. |
vi. |
Un-issued checks are safeguarded so as to prevent unauthorized access. |
vii. |
Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts.
These reconciliations:
 Are mathematicall accureate;
Are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements;
Are reviewed and approved by someone other than the person who prepared the reconciliation; and
Contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.
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