Time Deposit Program

Time Deposit Program

How to Participate

The following documents are needed to apply:

  1. Agreement for Time Deposit (triplicate) - Complete and return three documents -- all with original signatures (an executed copy will be provided to you once approved).
  2. Resolution (duplicate) - Complete and return originals only.
  3. Time Deposit Information form - Complete and return.
  4. Annual Report - Most recent report.
  5. Current Community Reinvestment Act (CRA) evaluation - Must be “Satisfactory” or better.
  6. Five most recent Consolidated Reports of Condition and Income (quarterly call reports).

If you plan to use collateral other than a Federal Home Loan Letter of Credit, please submit a Safekeeping Agreement:

  1. Safekeeping Agreement with the State Treasurer (triplicate). Advise our office of your choice of depository as soon as the decision has been made. Upon approval, complete your portion of the agreement and forward all three signed copies to your selected depository. If you select the Federal Reserve Bank as your depository, please contact Shirley Sneed at (916) 653-1300, as the Federal Reserve Agreement is different and will be sent to you separately.

If your institution is interested in accepting a deposit secured by mortgage notes, the following is also needed:

  1. Resolution and Power of Attorney adopted by your Board of Directors (specimen form). See Regulations Section 1898.6 regarding adoption in lieu of endorsing notes and assigning deeds of trust on pledged mortgage notes. Submit one copy of the Resolution and Power of Attorney.
  2. Assignment of Mortgage Notes and Deeds of Trust. See Regulations 1898.4 and 1898.5. If the Power of Attorney is not executed, this form is to be completed covering all mortgage notes.
  3. Monthly Report of Mortgages Pledged as Collateral. This report is to be completed and submitted to the State Treasurer by the fifth working day after the end of the month.

Please return the application information to:

State Treasurerís Office
Investment Division
915 Capitol Mall, Room 106
Sacramento, CA 95814

Attn: Evelyn Gorman or Sean Collier