Section 120.435 - Which loan pledges do not require notice to or consent by SBA?(a) Notwithstanding the provisions of § 120.434(e) , 7(a) loans may be pledged for the following purposes without notice to or consent by SBA:(1) Treasury tax and loan accounts;(2) The deposit of public funds;(3) Uninvested trust funds;(4) Borrowings from a Federal Reserve Bank; or(5) Advances by a Federal Home Loan Bank.(b) For purposes of the Paycheck Protection Program (PPP), the other provisions of § 120.434 shall also not apply to PPP loans pledged under paragraph (a)(4) or (5) of this section.85 FR 21752, Apr. 20, 2020