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 State Board of Deposit, Ohio Treasurer Robert Sprague encourages financial institutions to become eligible to accept public moneys belonging to the State of Ohio during the current designation period as set by the State Board of Deposit (“Designation Period”).
“Interim deposits” are time and savings accounts awarded by the Ohio Treasurer. Examples include large dollar negotiated deposits and certificates of deposit placed through BidOhio or one of the Ohio Treasurer’s Linked Deposit programs. To be eligible to 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 Board of Deposit for approval.
Application forms and instructions, as well as a checklist, are available on the Treasurer’s website at www.OhioTreasurer.gov under “Financial Institutions & Investors” or by direct request. Applications for interim deposits will be accepted throughout the Designation Period. If you have questions about the Application and Agreement for Deposit of Public Funds, please contact Blake Bishop at 614.644.1292 or [email protected].
For depositories that seek an award of active deposits (demand deposit accounts), the Request for Proposal (RFP) for banking services is available upon request via email sent to [email protected]. The deadline for responses is 3:00 PM EST on December 18, 2024. A financial institution must also complete and submit the application to serve as Depository of Public Funds for 2025 – 2029 mentioned in the paragraph above. The State Board of Deposit will designate depositories and award active deposits on March 17, 2025, pursuant to Ohio Revised Code Section 135.12.
Please note: The Ohio Pooled Collateral System (OPCS) is separate and unique. Applications for participation in OPCS are accepted on a continuous basis and are not subject to approval by the State Board of Deposit. Information about OPCS can be found at https://opcs.ohio.gov.
The Ohio Treasurer’s office welcomes your application and the opportunity to work with you during the Designation Period.
| 2025-2029 Application | |
| ¤ Depository Application Agreement | |
| ¤ Trustee Agreement | |
| ¤ Instructions for Depository Application | |
| ¤ FHLB Trustee Agreement | |
| ¤ Declaration of Participation for Interim Deposits | |
| 2022-2025 Application | |
| ¤ Depository Application Agreement | |
| ¤ Trustee Agreement | |
| ¤ Instructions for Depository Application | |
| ¤ FHLB Trustee Agreement | |
| ¤ Declaration of Participation for Interim Deposits |
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
A.M. Best
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