Deposits of City Funds at Banking Development District Branches

Effective date: December 10, 2020

Proposed Rule Full Text
DOF_Proposed_Banking_Commission_Rules-1.pdf

Adopted Rule Full Text
DOF_Banking_Commission_Rules_Final.pdf

Adopted rule summary:

Notice of Adoption This rule amends the Banking Commission rules governing the deposit limits and market rates to be held by Banking Development District (“BDD”) branches to increase the maximum amount that may be deposited in such branches from $10 million per branch to $20 million per branch, as well as amending the current basis point market rate to allow for flexibility with current economic conditions.