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von Windfall (GB), 2017-06-05, 13:01  like dislike  Spam?  
This is mentioned in the context of Verpfändung and/or Besicherung. I've had difficulty finding a definition for it. Does anyone know if it's the same as a cash collateral account?
Bank account that serves to secure and service a loan. While cash and check deposits are made into this account, it is considered essentially a zero-balance account and no sums may be withdrawn.
AFAIK, it is "securities account".  #871692
von nigilmaadhust (UN), 2017-06-05, 14:52  like dislike  Spam?  
but in SAP we call so. I am not sure, if this is what you look for

SAP definition:

A unit used for position management and valuation. A securities account is required for all financial transactions that require position management.  Typically, a securities account in the SAP System relates to an actual securities account at a bank.
von Windfall (GB), 2017-06-05, 15:00  like dislike  Spam?  
Thanks, nigilmaadhurst. I'm not sure if "securities account" has two possible meanings or if Sicherungskonto does, but the usual meaning I know for "securities account" is a custody account where you hold securities, i.e. a Depot. This appears not to be the case with this account, which gives every appearance of being a normal bank account holding cash, but one which is being used for collateral. I
Chat:  #871700
von alex-k (DE), 2017-06-05, 15:09  like dislike  Spam?  
According to this legalese monster, the Sicherungskonto's gains are used towards paying off the debt or obligation. That would unfortunately eliminate the cash collateral account as per your quoted definition as a translation. I don't have a better one though and I'm sorry.
von Windfall (GB), 2017-06-05, 15:23  like dislike  Spam?  
Thanks, Alex. I am increasingly sure that the "Sicherung" in the name of the account refers to "collateral". The nuisance is that "cash collateral accounts" seem to be specifically for collateral for loans, which this is not. I think I might be OK with "pledged collateral account" though
This notice constitutes notice to you that, pursuant to a “Pledged Collateral Account
Agreement” entered into between us and the Chargee (the “Pledged Collateral Account
Agreement”) we have pledged and assigned to the Chargee by way of a charge our rights,
title and interest in and to all money from time to time standing to the credit of the Bank
Account, together with all interest accruing thereon.
Or possibly even just "collateral account". I'm having such difficulty finding definitions for these things that I'm beginning to wonder if this is an area where people just make their own name up as a description. In my case, the Sicherungskonto appears to be a normal bank account that two parties have chosen to use as collateral (and they will be informing the bank of this rather than asking the bank to set up a separate account).
von alex-k (DE), 2017-06-05, 15:35  like dislike  Spam?  
I think you're right. Both that people pull translations in this context out of their behinds and about this new term you've found. Who can study and remember this stuff in 2 languages and at least as many legal systems?

It's definitely collateral. It might be an escrow account though.
von Windfall (GB), 2017-06-05, 15:42  like dislike  Spam?  
Thanks for all your help, alex-k. It's been enormously useful.
? cash collateral account  #871719
von Proteus-, 2017-06-05, 23:39  like dislike  Spam?  178.191.24....

cash collateral account

Bank account that serves to secure and service a loan. While cash and check deposits are made into this account, it is considered essentially a zero-balance account and no sums may be withdrawn.

Read more:
von Windfall (GB), 2017-06-06, 09:35  like dislike  Spam?  
Thanks, Proteus, that was what I started by thinking, but it does seem to be spefiically linked with servicing loans and not with use as any other sort of collateral. That was why I switched to just "collateral account".

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