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Certificates of Deposit (COD) Policy Template

$75.00

The purpose of this Certificates of Deposit (COD) Policy Template is to describe COD accounts, products and services, and the related operations of a financial institution.  In general, a COD is a non-negotiable receipt for funds deposited in an interest-bearing account for a specific period of time.  The certificate (receipt) stipulates the terms and conditions of the deposit agreement.  Additional funds may be deposited only at maturity.  Withdrawals, prior to maturity, are permitted only with a substantial interest penalty as specified by Regulation D, except in cases where the depositor is deceased or has been declared legally incompetent by court order.

Description

Certificates of Deposit (COD) Policy

The purpose of this COD Policy Template is to describe certificates of deposit (COD) accounts, products and services, and the related operations of a financial institution.  In general, a COD is a non-negotiable receipt for funds deposited in an interest-bearing account for a specific period of time.  The certificate (receipt) stipulates the terms and conditions of the deposit agreement.  Additional funds may be deposited only at maturity.  Withdrawals, prior to maturity, are permitted only with a substantial interest penalty as specified by Regulation D, except in cases where the depositor is deceased or has been declared legally incompetent by court order.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Description, Authority and Scope – Topic 2
  • Product Definition – Topic 3
  • Interest Rates and Maturities – Topic 4
  • Automatically Renewable/Single Maturity COD – Topic 5
  • Grace Periods – Topic 6
  • Disclosure Requirements – Topic 7
  • Early Withdrawal Penalties – Topic 8
  • Interest Payments – Topic 9
  • Account and Serial Numbers – Topic 10
  • Opening a Certificate of Deposit – Topic 11
  • Certificates of Deposit Pledged as Collateral – Topic 12
  • Security Deposits – Topic 13
  • Certification of Certificates of Deposit – Topic 14
  • Certificates of Deposit in Forecast – Topic 15
  • Changing or Correcting Account Information – Topic 16
  • Closing a Certificate of Deposit – Topic 17
  • Lost Certificates of Deposit – Topic 18
  • Maturity Procedures and Notices – Topic 19
  • Past Matured Certificates of Deposit – Topic 20
  • Retention of Documentation – Topic 21

This Certificates of Deposit (COD) Policy Template (approximately 9 pages) is available to purchase from BankPolicies.com in Microsoft® Word format for $75.00.

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