Institutions desiring to engage in trust business services in the state of Florida must comply with the collateral and reporting requirements of Section 660.27, Florida Statutes ("F.S."). These collateral and reporting requirements are administered by the Bureau of Collateral Management ("BCM"). Depending on the type of collateral your institution elects to use, additional documentation will need to be filed with our office. The most common types of collateral used for these purposes are cash and marketable securities. The full range of eligible collateral is listed in Section 658.67, F.S.
In order to help your institution satisfy its collateral and reporting requirements, please contact our office at CollateralManagement@MyFloridaCFO.com or (850) 413-3328 for more information. Once you identify the type of collateral your institution prefers to use, we'll provide further documentation that must be filed with our office.