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Time Deposit Program

The program allows the State Treasurer to place deposits with eligible California financial institutions. By accessing funds through the Time Deposit Program, financial institutions can re-invest in the California communities they serve.

 

Program Description Program Highligts How to Participate Deposit Law Program Documents

Contact Information

Evelyn Gorman
Time Deposit Manager

Sean Collier
Program Analyst

(916) 653-3147

State Treasurer's Office
Investment Division
915 Capitol Mall, Room 106
Sacramento, CA 95814

P.O. Box 942809
Sacramento, CA 94209-0001

Additional Investment Information

Pooled Money Investment Account

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Local Agency Investment Fund

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What is the Time Deposit Program?

The Time Deposit Program was created in 1945 by the State Bank Deposit Law of California. The program allows the State Treasurer to place deposits with eligible California financial institutions.

The goal of the Time Deposit Program is to stimulate local economies by supporting financial institutions that serve the interest of their communities throughout the state.

All time deposits are collateralized by at least 110% of the funds on deposit.

Who is Eligible?

Eligible institutions include federally-insured commercial banks, savings banks and credit unions authorized to accept deposits in the State of California.

Why is Community Investment Important?

The State Treasurer places a high priority on community investment. Every effort is made to assure access to the Time Deposit Program for institutions that rely more on public and private deposits to lend and invest within their neighborhoods. By accessing funds through the Time Deposit Program, financial institutions can re-invest in the California communities they serve.

Time Deposit Program Participation Information as of 7/31/2017

Institution Size # of Institutions Total Deposits
Total Assets % of TD Program % of TD Program
< $5 billion 84.7% 58.7%
$5-10 billion. 6.4% 9.2%
$10-20 billion. 3.8% 15.1%
$20-50 billion. 3.8% 11.7%
> $50 billion. 1.3% 5.3%