Financial Institutions & Investors
The Ohio Treasurer's office works closely with financial institutions to certify depositories of public funds, collateralize public deposits for local governments, invest funds on behalf of the State of Ohio and certain local governments, and facilitate economic development efforts.
Process for Serving as a Depository of Public Funds with the State of Ohio
As Chairman of the Ohio Board of Deposit, Ohio Treasurer of State Robert Sprague encourages financial institutions to become eligible to accept public moneys, including active deposits and interim deposits, during the 2020-2022 biennium.
To be eligible to participate in Ohio Treasury programs and receive interim deposits, financial institutions are required to submit the Application and Agreement for Deposit of Public Funds and Trustee Agreement(s). Once reviewed and verified for completeness, the financial institution will be recommended to the State of Ohio Board of Deposit for approval.
All documents to complete an application to serve as a state depository, along with a checklist to ensure that you have completed all necessary steps are available at Financial Institutions. Applications for interim deposits will be accepted throughout the designation period.
For depositories that seek an award for active deposits, a schedule will be posted on the Ohio Board of Deposit website for the 2020-2022 biennial designation, when available. A separate Request for Proposal will be issued to guide the Ohio Board of Deposit in awarding active deposits as part of its next biennial designation of “the public depositories for the public moneys of the state,” as provided in the Ohio Revised Code 135.12.
If you have questions about the Application/Agreement for Deposit of Public Funds, please contact Chris Litton at (614) 466-2354 or [email protected]os.ohio.gov. The Ohio Treasurer of State welcomes your application and the opportunity to work with you during this biennium.
To hold active or interim deposits during the Designation Period, a Financial Institution must apply or renew its eligibility as a depository of public funds for the Designation Period. The agreement to serve as a Depository of Public Funds is available on the website for the Treasurer’s Office at www.OhioTreasurer.gov or by direct request. Currently, all applications received will only be considered for interim deposits as the deadline to apply to serve as a public depository for active deposits was February 25, 2020.
Questions regarding the Request for Proposal or application for active deposits or interim deposits may be emailed to [email protected].
| ¤ Depository Application Agreement | ||
| ¤ Trustee Agreement | ||
| ¤ Instructions for Depository Application | ||
| ¤ FHLB Trustee Agreement |
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Ohio Department of Commerce, Division of Financial Institutions
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