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 2022-2024 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 2022-2024 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 Blake Bishop at (614) 644-1292 or [email protected] The Ohio Treasurer of State welcomes your application and the opportunity to work with you during this biennium.
On November 23, 2021, the Ohio Treasurer of State (“Treasurer’s Office”) issued a Request for Proposal (“RFP”) for the award of active deposits of the public moneys of the State of Ohio for a period of two years commencing on July 4, 2022 (“Designation Period”). The RFP will be available by direct request. Respondents should submit their Response to the Treasurer’s Office no later than 3:00 PM on December 15, 2021. On March 21, 2022, the Board of Deposit will award active deposits for the Designation Period.
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. An application to serve as a public depository must be received by the Treasurer’s Office by February 15, 2022. Any application received after that date may only be considered for interim deposits.
Questions regarding the Request for Proposal or application for active deposits or interim deposits may be emailed to [email protected].
Federal Deposit Insurance Corporation
For information on insurance coverage levels and other public deposit topics
Government Finance Officers Associations
For recommended practices and publications
Ohio Department of Commerce, Division of Financial Institutions
The Division of Financial Institutions regulates state chartered financial institutions and consumer finance companies
U.S. Treasury, Financial Management Service
For listing of sureties approved by the Treasury
Ohio Department of Insurance
For sureties licensed in Ohio
For ratings of sureties
American Banker Online
For banking news, including regulatory announcements
National Association of State Treasurers
Serves as the nation's foremost authority for responsible state treasury programs and related financial practices, policies, and education