According to Investopedia, a bank comfort letter outlines the ability of a person to pay their debts to a debtor. Banks use this letter to support a borrower's ability to repay a loan. Comfort letters are solvency opinions, not guarantees that the debtor will meet the obligations of the loan.
An underwriter may use a comfort letter as a means to further investigate a potential borrower prior to issuing securities. The letter follows the generally accepted accounting principals, also known as GAAP, and assures reporting of financial data otherwise missing, like a change in financial statements or unreported audits, Investopedia notes.Learn More
SunTrust Bank's universal ACH routing transit number for the purpose of direct deposit is 061000104. SunTrust has several other transit numbers that vary by branch and account location.Full Answer >
Since Good Friday is not a federal holiday, most banks remain open during normal business hours. However, Good Friday has been officially recognized as a state holiday in 13 states, so some banks within those states may choose to close.Full Answer >
As of 2014, most Halifax bank locations close at 5 p.m. Monday - Friday and 12 p.m. on Saturday. Some branches close earlier, such as London 134/136 Cheapside, which closes at 4:30 p.m. on weekdays. Specific branch hours are found by searching the branch finder on Halifax's webpage.Full Answer >
Banks use computers in several different ways including the tracking of account transaction histories, interfacing with customers and executing trades. According to About.com, the first computerized banking system was ERMA, the Electronic Recording Method of Accounting, first implemented by Bank of America in 1956.Full Answer >