Protection of Public Deposits
Law and Rules:
- Chapter 12C of the Iowa Code, "Deposit of Public Funds"
- Chapter 13 of Iowa Administrative Rules,"Deposit and Security of Public Funds in Banks"
Pledging for Public Fund Deposits:
Pledging Agreements and Forms:
The following agreements and forms were adopted by the Office of Treasurer of State on January 30, 2004. Financial institutions must comply with the 2002 amendments to Chapter 12C of the Iowa Code and 781 Iowa Admin Code Chapter 13, adopted pursuant to the 2002 amendments, by March 30, 2004.
- Master Custodial Agreement
- Pledge and Security Agreement (securities)
- Pledge and Security Agreement (letter of credit or insurance policy)
- Letter of Credit Form (To be printed on letterhead of issuing bank)
- A Notice from the Office of Treasurer of State and the Iowa Division of Banking
Approved Custodians:
A properly executed master custodial agreement must be received by the treasurer's office by the close of business on March 30, 2004, in order to be considered for approval as a custodian. Out-of-state financial institutions must also provide an attorney's opinion as required by Iowa Administraitve Rule 781-13.5(2).
- Bankers Bank
- Madison, Wisconsin
- Bankers Trust Company NA
- Des Moines, Iowa
- Commerce Bank
- Kansas City, Missouri
- Country Club Bank
- Prairie Village, Kansas
- Federal Home Loan Bank
- Des Moines, Iowa
- First National Bank
- Omaha, Nebraska
- First Tennessee Bank
- Memphis, Tennessee
- Northern Trust Bank
- Chicago, Illinois
- Quad City Bank & Trust Company
- Bettendorf, Iowa
- Security National Bank
- Sioux City, Iowa
- UMB Bank NA
- Kansas City, Missouri
- United Bankers'Bank
- Bloomington, Minnesota
- US Bank NA
- Minneapolis, Minnesota
- Wells Fargo Bank NA
- Minneapolis, Minnesota
